Remaking Jurong: From ulu town to romantic lake district
Can Jurong with its uncool industrial image be transformed into a romantic lake district that is also rich in jobs? Lee Siew Hua meets the zestful planners behind the new Jurong Lake District and looks at the prospects of success for Singapore’s next mini-metropolis THE Jurong Lake District planners were lamenting to each other that … Read more
OUE earmarks $530m to build 38-storey tower
Tenants of existing block given till end of this month to vacate premises THE fitness chain True Yoga will have to find a new position to assume in the business district after one of its outlets got its marching orders, but it might be a bit of a stretch given the shortage of office space. … Read more
DBS emerges as most resilient local bank
THESE are not the best of times for banks, but DBS Group Holdings can at least claim that it has emerged as the most resilient of the three local players this week. On many criteria – from share price to valuation – it held up best when all three filed their first-quarter results. While they … Read more
Singapore to stay competitive with four-pronged strategy
ASIA’S economic prospects look positive despite the financial turmoil in the United States, says Minister for Trade and Industry Lim Hng Kiang, and Singapore is also expected to keep its economy competitive with a four-pronged game plan. Speaking at the European Chamber of Commerce Europe Day Lunch yesterday, Mr Lim identified the four key areas … Read more
A-Reit buyer of Creative’s HQ building in Jurong East
ASCENDAS Real Estate Investment Trust (A-Reit) has emerged as the buyer of Creative Technology’s headquarters building at 31 International Business Park in Jurong East. The price will be $246.8 million. Creative said in March that it had agreed to sell and lease back the property but did not disclose the buyer’s identity. The deal is … Read more
Yanlord more than trebles net in Q1
YANLORD Land Group, a high- end real estate developer based in China, yesterday announced a more than trebling in net profit to $9.3 million for its first quarter ended March 31. The rise in earnings from $2.9 million for the corresponding period last year was on the back of a 30 per cent surge in … Read more
F&N gains slip 10% on lack of one-time profits
THE absence of one-off gains took the fizz out of Fraser & Neave’s (F&N’s) second-quarter profits. The property, food & beverage (F&B) and publishing conglomerate reported yesterday that net profit for the period ended March 31 slid 9.8 per cent to $96.6 million. This was because the numbers for last year’s second quarter included non-recurring … Read more
Property key driver as F&N H1 net profit rises 11.7%
Group looks to grow other business segments; second-quarter net earnings fall 9.8% THE property segment was the key profit driver for Fraser & Neave (F&N) in the first half of its financial year. But that may change in future as the group looks to grow other business segments, with action likely to occur on the … Read more
OUE’s earnings in Q1 drop 69.2% to $23.7m
OVERSEAS Union Enterprise (OUE) has reported a 69.2 per cent or $53.1 million year-on-year drop in first-quarter group net earnings to $23.7 million, in the absence of a revaluation surplus on investment properties. The group, controlled by Indonesia’s Lippo Group and Malaysian tycoon Ananda Krishnan, also said that in the current financial year it ‘may … Read more
Split property sales commission in two parts
IT IS heartening to learn that the court dispute between PropNex and Mr and Mrs Loh Yi Min has been settled amicably. We can learn something from this incident. When a property agent undertakes work for either the seller or the buyer or both, he does it for a remuneration. It is therefore only correct that … Read more
