GuocoLand said its net profit almost doubled on year to S$9.5 million for the third quarter ended March 31. But its revenue fell 15 per cent to S$107.6 million compared to the same period last year. The group said the higher profit contribution was mainly from property development projects in China. As such, its income tax expenses surged from S$800,000 to S$6 million. Administrative expenses for the...
Guocoland
GuocoLand has recorded a remarkable recovery in its second-quarter net profit. The property developer posted a net profit of S$60.4 million for its second quarter ending December 31, a hefty increase from its earnings of about S$900,000 a year ago. The higher profit contribution for the second quarter was mainly from property development projects in China. Strong sales from its Ascot Park development...
Property developer Guocoland said the half year net profit of its Malaysian subsidiary for the period ending 31 December 2009 has declined 12.4 per cent to S$3.39 million compared to the previous year. This is despite its revenue for the six-month period has more than doubled to S$36.6 million due to higher proceeds from property development. Guocoland Malaysia's second quarter net profit fell by 75.3...
Mainboard-listed developer Guocoland on Friday reported a net profit of S$12.3 million for the first quarter. This is a turnaround from the S$2.8 million net loss a year ago, which was partly due to foreign exchange losses. Revenue for the three months ended September fell 37 per cent to S$95.7 million, largely due to lower contribution from property development projects. During the quarter, Guocoland...
Mainboard-listed developer Guocoland has posted a full year net loss of S$70.2 million, reversing a S$161.8 million net profit in the previous financial year. The net loss was mainly due to a revaluation loss of S$81million on its Tung Centre property, write-downs in values of development properties in Malaysia and foreign exchange losses. Revenue for the financial year ended June fell 24 per cent to...
SPURRED by the success of recent property launches at the upper end of the middle-class market, GuocoLand Ltd, the Singapore-listed arm of Malaysian tycoon Quek Leng Chan, will soon start marketing its Sophia Residence project on - where else? - Sophia Road. Sophia Residence The 272-unit project comprises several blocks of between eight and 14 storeys nestled in landscaped surroundings on a 166,000 sq ft...
Property developer GuocoLand has reported a net loss of S$2 million for the half year ended 31 December 2008. This compared to its net profit of S$60.6 million recorded in the same period last year. The group said there was an unrealised translation loss of S$22.1 million. This was due mainly to the revaluation of US$300 million worth of bank loans, as the greenback appreciated against the Singapore...
GuocoLand has suffered a 43 per cent drop in its net profit to S$161.8 million for the financial year ended June. The group attributed the sharp contraction largely to lower property sales in Singapore. Lower revaluation gain on investment properties and higher income tax expenses incurred from its projects in China were also blamed for the fall. Revenue for the period slid 4 per cent to S$670.9...
Kuwait Finance House (KFH) has allowed options to acquire 97 units of the high-end Goodwood Residence to lapse. The deal would have been worth S$818 million for developer GuocoLand, which has said that Singapore's property market appears to be cautious. The developer had granted Kuwait Finance House the options back in December. In a filing to the Singapore Exchange, GuocoLand said the two parties are...
Property developer GuocoLand has reported a net profit of S$60.6 million for its half year ended December 31. That was a 15 percent increase compared to the same period a year ago. Revenue rose 114 percent to S$402 million. However, net profit in the second quarter actually fell 26 percent to S$33 million. This was due to the absence of an exceptional gain that was booked in the year-ago...