United Industrial Corporation (UIC) and its concert partners have raised their stake in Singapore Land to 97.27 per cent at the close of its takeover offer on Friday. This means UIC can now take the mainboard-listed firm private. Under the regulations, UIC needs SingLand's public float to fall below 10 per cent before it can delist the company from the Singapore Exchange (SGX). In a late statement on...
Singapore Land
United Industrial Corp (UIC) has crossed the 90 per cent shareholding level needed to de-list Singapore Land (SingLand) from the Singapore Exchange, according to a disclosure statement late on Wednesday. UIC, a property and investment firm whose major shareholders include Singapore banker Wee Cho Yaw and Philippine tycoon John Gokongwei, now controls 90.15 per cent of SingLand. SingLand's properties...
Minority shareholders of Singapore property group SingLand should accept the S$8.40 a share offer by United Industrial Corporation (UIC) as the price is fair and there is a risk that they could end up holding shares in an unlisted firm, independent financial adviser ANZ said on Monday. They can, alternatively, sell their SingLand shares on the open market since the shares are currently trading well...
United Industrial Corporation (UIC) has made a formal offer to take mainboard-listed Singapore Land (SingLand) private. UIC announced last month that it wanted to buy over the remaining 19.64 per cent of shares in SingLand that it did not already own. The deal is valued at S$761.7 million. UIC is offering to pay S$9.40 for each SingLand share. It said that buying out minority shareholders will...
The majority shareholder of Singapore Land (SingLand) is offering to take the company private by buying the remaining 19.64 per cent of shares in a deal valued at S$761.7 million. SingLand is one of Singapore's largest landlords. Its properties include Singapore Land Tower and Clifford Centre in the heart of the central business district, SGX Centre which houses the Singapore Stock Exchange, and the...
Mainboard-listed property developer Singapore Land said its third-quarter net profit dropped 11 per cent from a year earlier to S$50.1 million. This was despite revenue growing 29 per cent from a year ago to S$154 million. The developer said the higher revenue was due to better sales of trading properties and higher revenue in the Pan Pacific Singapore hotel. The hotel's revenue rose 29 per cent to S$27...
Mainboard-listed property developer Singapore Land has returned to the black in the first half of 2010. It posts a net profit of S$108 million, overturning the loss of some S$272 million over the same period last year. This is on the back of a 52 per cent increase in revenue to S$260 million for the six months ended June. Meanwhile, it report a second quarter net profit of about S$60 million. This also...
Singapore Land said on Friday its third quarter net earnings rose 41 per cent to S$56.3 million from a year ago. This was on the back of a 33 per cent rise in revenue for the three months ended September to S$119.1 million. The company said the improvement in revenue was mainly due to sales of The Trizon residential project and higher office rental income. But this was partly offset by lower revenue...
Property developer Singapore Land reported net profit of S$73.2 million for the first quarter of 2009 - more than double of the amount recorded a year before. It saw revenue rise by 4 per cent to S$86.2 million on higher rental income, which was partially offset by lower revenues from its Pan Pacific Singapore hotel. The developer said revenue from the hotel fell by 28 per cent to S$21.3 million due to...
Fair value gains as a result of a revaluation of properties has boosted the full-year earnings of Singapore Land by 1,252 percent. It posted net earnings of nearly S$1.4 billion, compared with S$121 million in the year-ago period. Revenue rose 34 percent to S$271 million. This was due to the contribution from its Pan Pacific Singapore hotel operations and higher rental income. Singapore Land expects...