A unit of Hong Kong-based developer Wheelock and Co said on Thursday (Jul 19) it had launched an offer for all the shares of Singapore-listed subsidiary Wheelock Properties Singapore at S$2.10 each. Star Attraction, a wholly owned indirect subsidiary of Wheelock and Co, said the voluntary unconditional general offer would allow Wheelock Property shareholders to realise their investment entirely in cash...
REAL estate developer Wheelock Properties posted a net profit of S$28.3 million for its third quarter ended Sept 30, 2016, up one and a half times from S$11.3 million a year ago. Revenue was up 82 per cent to S$152.6 million. Higher revenue was due to sales in Ardmore Three and The Panorama. This was partially offset by lower unit sales in Scotts Square and lower dividend and interest income from the...
The group making a takeover bid for Hotel Properties Ltd (HPL) has raised its offer price again. 68 Holdings - led by Singapore tycoon Ong Beng Seng and Wheelock Properties - is now offering S$4.05 for each HPL share, up from the previous S$4.00 a share. 68 Holdings had originally offered S$3.50 per share. This follows an agreement by 68 Holdings to buy 6.69 million HPL shares, representing 1.29...
The move by Wheelock Properties to take a write-down for a condominium project reflects difficulties faced by developers to sell residential units on land bought before the last set of cooling measures announced last year, property consultants said. Wheelock said on Monday that it was writing down S$110 million for The Panorama condominium project. Consultants said the developer had paid a...
Wheelock & Co, a Hong Kong-based real estate developer and parent of the city’s Wharf Holdings and Singapore’s Wheelock Properties, yesterday said its billionaire Chairman Peter Woo, 67, will step down and his son will take over the role. Mr Douglas Woo, who was appointed as Managing Director effective July 1, will start as Chairman on Jan 1, according to a filing to the Hong Kong Stock Exchange. Mr...
Residents at The Seaview condo along Amber Road have sued its developer over poor workmanship and defects. The S$14 million lawsuit is believed to be the biggest yet in the country. Residents of the “Ardmore Park of the east” allege that the estate has been plagued by defects since they began moving in. One year after the 546-unit project was completed in 2008, building surveyors discovered at least...
Borders has said that a dispute with its landlord, Wheelock Properties, has caused its bookstore at Wheelock Place to be closed since Tuesday. Borders said it was "extremely disappointed" with its landlord of 13 years, but did not elaborate. It also reassured the public that the store's closure is not linked in any way to the shutdown of over 200 Borders stores in Australia and the US when its parent...
Wheelock Properties' profit before tax for its half year ended 30 June fell 33 per cent to S$107 million. For the same period, revenue dropped 40 per cent to S$170 million. Wheelock Properties attributed the decline in revenue largely to the completion of Ardmore II and Orchard View in the second quarter of last year, as well as lower revenue recognition from Scotts Square based on the progress of...
Mainboard-listed Wheelock Properties on Friday said its profit for the six months ended June more than tripled on-year to S$133.9 million. Its revenue rose 74 per cent to S$283.9 million. Meanwhile, for the second quarter, its profit more than doubled to S$83.5 million compared to the same period last year. Revenue for the quarter also doubled to S$177.3 million. The group said turnover was driven by...
Mainboard-listed property developer Wheelock Properties has posted a 59.1 per cent decline in its third-quarter net profit to S$54.3 million from a year ago. This was on the back of a 42 per cent drop in revenue for the three months ended September to S$133.1 million. Wheelock said the fall in turnover was mainly due to lower revenue recognition from Scotts Square based on the progress construction works...
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