Private home sales by developers drop 56% in year ended June
Sales of private homes by Singapore developers dropped by 56 per cent for the year ended June 30, with only about 7,200 units being sold. However, Real Estate Developers’ Association of Singapore (REDAS) believes private home prices will not drop sharply this year, despite the tight credit market and economic slowdown. President of REDAS, Simon … Read more
International Capital offer for Japan Land lapses
The offer for Japan Land Limited at 60 cents per share by International Capital Investment has lapsed. In an announcement released Friday, Japan Land said that valid acceptances of the International Capital offer totalled 0.32 per cent of its total share capital. International Capital is a vehicle of Indonesian tycoon Oei Hong Leong, who made … Read more
Dr Doom says Singapore will ride out global turmoil
Singapore’s economy will not boom over the next few years due to the global economic slowdown, but it will not go bust either. That’s according to Swiss economist Marc Faber, who’s also known as Dr. Doom after he accurately predicted earlier stock market crashes and other financial disasters. He was speaking at OCBC’s Global Treasury … Read more
S’pore River Festival promises music, dance & shopping experiences
The Singapore River, once a lifeline to early immigrants, will spring to life for two weekends from September 19 to 28 for the Singapore River Festival. Among the many events leading up to the Formula One night race in late September is a dance drama spectacle “Legenda Singapura”. The half hour-long performance, which will also … Read more
Mega projects in Singapore may not to be enough to offset external slowing
Mega projects like the Marina Bay Integrated Resort and the upcoming Formula One race are expected to present a substantial boost to the Singapore economy. Some analysts expect the approximately S$120 billion worth of projects in the pipeline to support the economy until 2015. But others warn this may not be enough to offset external … Read more
Rendezvous expands into India
Rendezvous Hotels & Resorts International (RHI), a subsidiary of The Straits Trading Company, on Friday announced a joint venture agreement with Chennai based Indian developer XS Real Properties to expand in the India market. The joint venture company – Rendezvous India Hospitality Private Limited – will manage hotels and resorts in India, where the government … Read more
Iconic to buy China property firm for up to US$146.29m
Iconic Holdings announced a proposed acquisiton of Zenna Overseas Ltd for up to RMB1 billion (US$146.29 million), on Friday. Zenna Overseas Ltd owns Yueyang Taihe Development Co Ltd, which is engaged in property and investment in the Hunan province. Source : Business Times – 12 Sep 2008
Low Keng Huat H1 net up 36% to $10.4m
Low Keng Huat (Singapore) Ltd on Friday said first half ended July 31 2008 net profit rose 36 per cent to $10.4 million on higher profit from associates and hotel operations. Revenue was up 52 per cent to $95.8 million mainly due to construction and hotel operations. Earnings per share rose to 1.41 cents from … Read more
Real estate woes spread as sales plummet
Coastal cities in mainland China have had the steepest downturns China has joined the United States, Britain, Spain and others on the list of nations suffering a real estate decline. Although the last national statistics showed single- digit growth from July 2007 to July 2008 in the average price of commercial and residential real estate, … Read more
Jet Li, Adam Scott launch own foundations in Singapore
Chinese actor Jet Li and Australian pro golfer Adam Scott have both launched their own foundations in Singapore. They were at the Global Philanthropy Forum which is being held in Asia for the first time. The forum is a leading platform for promoting private philanthropy. Li said he made the move because he believes Singapore … Read more
