FOUR property firms and an architect have joined hands to buy a prime office building in the Central Business District (CBD) and convert it into apartments. They paid $148 million for Marina House at 70 Shenton Way, according to a press release from one of the companies yesterday. Roxy-Pacific Holdings said it has formed a consortium with Macly Capital, Pinnacle Assets, Fission Holdings and architect...
Roxy-Pacific
ROXY-PACIFIC Holdings has taken a 20 per cent stake in the consortium started by Melvin Poh of Fission Group which recently signed a deal to buy Marina House at Shenton Way for $148 million. BT reported the sale of Marina House late last month. Besides Roxy-Pacific and Fission Holdings, the other three shareholders in the consortium are Macly Capital, Pinnacle Assets and Chee Hsian Sing. Mr Chee, an...
Main-board listed Roxy-Pacific Holdings and its partners have acquired the Marina House at Shenton Way for S$148 million. The deal was done through its wholly-owned subsidiary RL Properties, which has formed a consortium with four other companies, with an equal shareholdings of 20 per cent each. They include Macly Capital, Pinnacle Assets, Fission Holdings and Mr Chee Hsian Sing. Marina House, owned by...
Property developer Roxy Pacific has doubled its profit in the fourth quarter. Profit for the three months ended December soared 104 per cent to S$5.9 million on higher sales growth in the group's property development division. Revenue over the same period rose 47 per cent to S$44 million. However, the improvement in turnover was offset by a 16 per cent decrease in revenue from the group's hotel ownership...
Dragon Mansion at 18 Spottiswoode Park Road has become the first successful en bloc sale in Singapore this year. The property was sold to a unit of Roxy-Pacific Holdings for S$100.8m including the development charge. That translates to about S$863 per square foot per plot ratio. CKS Property Consultants launched a tender for the site in July, after it obtained consent from more than 80 per cent of the...
Roxy-Pacific Holdings, the homegrown specialty property and hospitality group, today announced an 8% increase in revenue to $37.6 million for the third quarter ended September 30, 2009 (Q3FY2009). Net profit declined 28% to $6.3 million in Q3FY2009 from $8.7 million in Q3FY2008. Excluding fair value gain of $2.3 million recorded in Q3FY2008, Group profit before tax increased 3% to $7.5 million from $7.3...
The chief executive of property group Roxy-Pacific, Mr Teo Hong Lim, seems unmoved by the ongoing bull run in the property market. He is not in a hurry to join in the fray with new project launches. "It seems very strong and has caught many industry players off guard, I don't know when this window of opportunity will close," he told Today. So although the developer's strategy is to buy a plot of land and...
Property developer Roxy-Pacific has posted a 53 per cent on-year rise in its first quarter net profit, to S$6.4 million. Revenue increased by nearly two-thirds to S$38 million. The jump was mainly due to the progressive recognition of revenue from five development projects in the quarter. The firm also saw an increase in rental yield from the renewal lease for some of the shop units at its Roxy Square...
Mainboard-listed Roxy-Pacific has nearly quadrupled its full-year net profit to S$19.3 million in its maiden results since going public. The specialty property and hospitality group is crediting this to the strong property market and robust tourism industry. Revenue more than doubled to about S$103 million. Looking ahead, Roxy-Pacific said it is optimistic about the Singapore property market and intends...