The Marina Mandarin Singapore and parts of the Marina Square complex are changing hands for S$675.3 million, under a deal last Friday involving firms linked to tycoon Wee Cho Yaw. United Industrial Corp (UIC) is buying out Finnegan Investments and Mackmoor, as well as mainboard-listed OUE. The whole Marina Square mall will then be owned jointly by UIC and parent UOL Group. UIC is coughing up that sum...
Property group UOL will embark on its first major development project in London following the purchase of a prime development site in Bishopsgate for £97 million (S$201.9 million). The Singapore-listed developer bought Heron Plaza, seller Heron International said in a statement on Thursday (Aug 14). UOL has consent to build a five-star hotel, residential and retail development that is up to 43 stories...
Property giant UOL Group clinched the "Best Developer Award" in the Singapore and South East Asia categories at the South East Asia Property Awards 2012 on Wednesday. The "Best Developer Award" is based on the quality of development projects, track record and innovation of the developer. Last year, UOL won the "Best Condo Development Award" in the Singapore and South East Asia categories for its Nassim...
Property group UOL posted a 13 percent decline in third quarter net profit to S$87.8 million compared to a year ago. However group revenue for the three months ended September 30 fell 33 percent to S$277 million on-year. In its filing to the stock exchange on Thursday, the company attributed the decline to the drop in property development revenue from S$267.4 million to S$133.7 million following the...
UOL Group has booked a net profit of about S$171.68 million for the second quarter ended 30 June 2012, down by 19 per cent compared to the previous year. In a filing to the Singapore Exchange (SGX), UOL attributed the decline mainly to lower income from property development sales and lower fair value gains from investment properties. During the quarter, UOL recorded a 34 per cent on-year drop in revenue...
Property firm UOL Group has reported a 16 per cent increase in its net profit to $202 million for its second quarter ended June. This is on the back of strong revenue which jumped 40 per cent to $455.9 million from $326.7 million in the same period last year, the company's news release said. Property development, property investments and dividend contribution all registered good income and has helped...
Property company UOL Group says its first quarter net profit rose by 133 percent on-year to hit $230 million for the three months ended March 31st. Its revenue for the quarter increased by 103 percent to $725 million. UOL says its results for 2010 were restated due to the adoption of new accounting policies effective from 1 January this year. Excluding the effects of this adoption, attributable net...
A buoyant property market in Singapore has lifted the full-year net profit of UOL Group by 76 per cent to S$745.8 million for the period ended December 31 last year. UOL said its higher net profit came on the back of strong property sales, where 1,240 residential units were sold last year. That boosted group revenue to hit a record S$1.3 billion. The increased earnings was also due to the progressive...
United Overseas Land Group (UOL Group), has appointed Mr Liam Wee Sin as group president. He takes over from Mr Lian Kheng Gwee, who is currently also the group chief executive of UOL. Mr Liam, who is 51 years old, was the chief operating officer of UOL Group from 2006 to December last year. He joined UOL in 1993 as project manager and worked his way up through senior and top management in the...
UOL Group has acquired Lion City Hotel, a freehold property at the junction of Tanjong Katong Road and Geylang Road, for S$313 million. The property, which has a site area of 147,910 square feet, is also near the existing Paya Lebar MRT interchange. UOL says that its wholly-owned subsidiaries UOL Residential Development and UOL Property Investments have successfully tendered for the site. The company...
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