Shaw House, Shaw Centre may undergo major revamp next year
Another landmark near Orchard Road may soon get a facelift. Channel NewsAsia understands that Shaw Organisation is considering a major redevelopment of Shaw House and its neighbouring Shaw Centre. According to some sources, an official announcement is expected by August. The news comes even as some tenants have moved out in recent months following a … Read more
India’s DLF revives S’pore Reit IPO: sources
Indian developer DLF Ltd will revive and enlarge an initial public offer of its property trust in Singapore because it believes market conditions have improved, two people close to the development said on Monday. Earlier this year, India’s most valuable property firm had shelved a planned US$1.5 billion IPO for its real estate investment trust … Read more
Orchard Parade Q108 net profit soars on hospitality
Orchard Parade Holdings Ltd on Monday reported net profit for the first quarter ended March 31, 2008 rose to $16.65 million (US$12.17 million) from $5.12 million a year ago due to better hospitality operations. Earnings per share rose to 4.75 cents, compared to 1.46 cents a year earlier. Revenue, however, fell 44.5 per cent to … Read more
Asia Food & Properties posts Q1 net profit of S$45m
Asia Food & Properties has returned to the black in its fiscal first quarter. The firm reported a profit of S$45 million, overturning a loss of S$2.7 million in the year-ago period. Revenue rose 9.5 percent to S$195 million, mainly from its China property business and its food operations. Asia Food & Properties said the … Read more
Asia Food & Properties swings back into the black in Q1 08
Asia Food & Properties (AFP) on Monday reported a net profit of $45.44 million for the first quarter ended March 31, 2008, compared to a net loss of $2.8 million a year ago. Revenue rose 9.5 per cent to $195 million, of which $147.5 million (75.6 per cent) was from the property business and the … Read more
Chip Eng Seng reports 40% rise in Q1 net profit to S$8m
Construction firm Chip Eng Seng has reported a 40 percent rise in first-quarter net profit to S$8 million. Revenue rose 33 percent to about S$60 million, boosted mainly by its construction business. Chip Eng Seng’s revenue from construction projects jumped 74 percent to S$52.5 million in the first quarter. But its other two divisions, property … Read more
Chip Eng Seng Q1 net profit up 39%; strong order book
Chip Eng Seng on Monday said net profit for the first quarter ended March 31, 2008 rose 39.4 per cent to $8.08 million, thanks to strong sales from construction projects. Revenue rose 32.6 per cent to $59.95 million, due to a 73.8 per cent rise in sales from construction projects. Earnings per share rose to … Read more
Wing Tai Q3 net profit slips 4 pct on lower sales
Wing Tai Holdings on Monday said net profit for the third quarter ended March 31, 2008 fell 4 per cent to $133.08 million (US$97.30 million) due to lower sales from development properties. Revenue for the third quarter fell 56 per cent to $320.84 million. For the nine months ended March 31, 2008, net profit sank … Read more
Wing Tai reports 49% fall in Q3 net profit to S$28m
Property developer Wing Tai Holdings on Monday said its third-quarter net profit fell 49 percent to about S$28 million. This comes as revenue fell 63 percent to S$110 million. For the nine months, its net profit declined 4 percent to S$133 million. The company said the drop was due to lower revenue and operating profit … Read more
No change in CPF interest and HDB mortgage rates
THE Central Provident Fund (CPF) board will keep the interest rate for members’ CPF savings in their Ordinary Account at 2.5 per cent for the third quarter of this year. According to a joint statement by CPF and HDB on Monday, the computed CPF interest rate derived from the major local banks’ interest rates for … Read more
