Eng Wah sells KL condo for US$157,000
Eng Wah Organisation has sold a property in Jalan Binjal, Kuala Lumpur, to two individuals for 525,000 ringgit (US$157,171) cash. The sale was made after the firm entered into a reverse takeover deal with Transcu Ltd, that requires the disposal of its existing assets and businesses. Source : Business Times – 22 Aug 2008
GuocoLand’s FY08 net profit drops 43%
Property developer GuocoLand Limited on Friday reported net profits of S$161.8 million for the financial year ended June 30 – 43 per cent down from a year ago. Group revenue shed a slight four per cent to S$670.9 million. Earnings per share for the year stood at 20.17 cents, less than half of that for … Read more
GuocoLand suffers 43% drop in full-year net profit to S$161.8m
GuocoLand has suffered a 43 per cent drop in its net profit to S$161.8 million for the financial year ended June. The group attributed the sharp contraction largely to lower property sales in Singapore. Lower revaluation gain on investment properties and higher income tax expenses incurred from its projects in China were also blamed for … Read more
CapitaLand to inject 4 of its integrated developments into Raffles City China fund
CapitaLand is going to inject four of its Raffles City-branded integrated developments into its Raffles City China fund. The US$1 billion real estate private equity fund will acquire CapitaLand’s 55.9 per cent stake in Raffles City Shanghai. It will also take over 100 per cent of Raffles City Beijing, Raffles City Chengdu and Raffles City … Read more
HDB awards DBSS site in Toa Payoh to Hoi Hup-led JV
The Housing & Development Board on Friday awarded the tender for a Design, Build and Sell Scheme site at Lor 1A Toa Payoh to the top bidder – a consortium comprising Hoi Hup Realty Pte Ltd, Sunway Developments Pte Ltd and Hoi Hup JV Development Pte Ltd. Their winning bid of about $198.82 million works … Read more
CapitaLand to realise S$313 m gain from asset injection
PROPERTY giant CapitaLand has inked deals to inject four Raffles City-branded integrated developments in China – in Shanghai, Beijing, Chengdu and Hangzhou, into its Raffles City China Fund. The US$1 billion (S$1.4 billion) real estate private equity fund will be purchasing CapitaLand’s effective 55.9 per cent stake in Raffles City Shanghai, and 100 per cent … Read more
Market could do with Wing Tai plainspeak
WHEN Wing Tai Holdings holds its fourth-quarter and full-year results briefing next Tuesday, it will be the last of the major Singapore-listed property groups to announce results for the period ended June 30, 2008. Net earnings are expected to be lower than the $382 million record performance for the preceding year. But the wait may … Read more
Appeal to get back site of temple
Three devotees argue that acquisition of site off Bartley Road violated Constitution FOR almost two hours yesterday, judges of the Court of Appeal heard arguments over whether the Government’s acquisition of a 65-year-old temple off Bartley Road was legal. Lawyers representing three devotees of the Jin Long Si Temple said the acquisition of the temple … Read more
CityDev issuing 1st tranche of Islamic bonds by year end
CITY Developments said yesterday that it will issue the first tranche of Islamic bonds by the end of the year, as it looks to build up its war chest. Singapore’s second-largest developer announced last week that it plans to sell $1 billion of Islamic multi-currency medium-term notes, arranged by Malaysian bank CIMB. The deal will … Read more
Lum Chang wins $76.5m contract from A-Reit
ASCENDAS Real Estate Investment Trust (A-Reit) has awarded a $76.5 million design-and-build contract to a unit of Lum Chang Holdings for the construction of a new eight-storey tower and a three-storey ancilliary podium in Changi Business Park. The building will be on land with an area of over 28,000 square metres – one of the … Read more
