Wing Tai

Wing Tai Holdings' Wingcharm Investment Pte Ltd won a state tender for a 99-year leasehold site in Middle Road for private residential with commercial at first storey use, beating out nine others with its nearly S$492 million bid. Spanning about 80,300 sq ft, the Middle Road plot can yield an estimated 375 homes. The site will be developed into two 20-storey residential towers and one block of low...

REGIONAL property developer Wing Tai Holdings saw its takings hit by slowing sales of its property units. Its revenue for the third quarter was down 35 per cent to S$113.0 million, from S$174.1 million a year ago. Revenue for the nine-month period ended March 31, 2016, was down 12 per cent to S$403.8 million, from S$460.8 million the year before. Wing Tai said the revenue for the period was mainly...

Slashing prices is not the best way to increase sales in the luxury home segment despite the current property climate, as developers risk tarnishing the brand image of their offerings, said Wing Tai Holdings chairman Cheng Wai Keung yesterday. This is one of the reasons the company has not taken that option with its freehold Ardmork Park project, Le Nouvel Ardmore. Wing Tai has sold only three of the 43...

Wing Tai Holdings on Monday reported second-quarter net profit surged from the corresponding period in the previous year, boosted by its property business. Net profit for the three months ended Dec 31 was up 159 per cent to S$88.7 million as revenue jumped 73 per cent to S$321.8 million, Wing Tai said. The stellar performance was due in large part to progressive sales in its projects such as Foresque...

Property group Wing Tai Holdings has reported a 1 per cent rise in second quarter net profit to S$34.2 million from the previous year. The company attributed the increased profit to the higher contributions from its developments The Floridian and Ascentia Sky by Tanglin in Singapore, and also from its properties in Hong Kong. Group revenue for the quarter ended December 31 rose 18 per cent to S$185.62...

Singapore-listed property and lifestyle group Wing Tai Holdings reported yesterday a full-year net profit of S$314.2 million, up 95 per cent from a year earlier, largely due to fair value gains recognised on properties and higher contribution from associated and joint venture companies. The company recorded a S$74.6 million in fair value gains from investment properties in the fiscal year ended June,...

Property group Wing Tai Holdings said its subsidiary Wing Tai China Investment has signed a joint venture agreement to develop a residential project in Guangzhou Knowledge City. The agreement is with Singbridge Guangzhou, a subsidiary of Singbridge International Singapore. Wing Tai will hold a 40 percent stake in the project, which will be developed in phases over five years on a 10-hectare site. With a...

Wing Tai has posted a 142 per cent jump in net earnings for the second quarter ended Dec 31, 2010 to $53.9 million, from $22.3 million a year earlier. The property and retail group's Q2 revenue rose 13 per cent year on year to $197.8 million. For the first half, Wing Tai achieved a 23 per cent year-on-year increase in net profit to $84.1 million, despite a 27 per cent drop in revenue to $328.8 million....

Wing Tai Holdings say its first quarter net profit fell 35 per cent on-year, to around S$30.2 million. Meanwhile, revenue for the same period fell 52 per cent to S$131 million. The company says the drop in profits was on the back of lower revenues earned for the quarter. The company says that in the current quarter, it officially launched Belle Vue Residences, which to date has seen 65 per cent of its...

The hot housing market has boosted the annual earnings of property developer Wing Tai Holdings. Its net profit for the financial year ended June, soared seven-fold to S$160.8 million from S$21.0 million in the previous year. Its fourth quarter net profit came in at S$68.9 million compared to a loss of S$53.8 million a year ago. Wing Tai's property sales were the main drivers of its increased annual...