UOL’s Q3 net profit up 14%
UOL Group Limited on Wednesday said its net profit for the third quarter ended September 30, 2008 rose 14 per cent to S$73.54 million. The share of profit of associated companies was higher in the third quarter of 2008. The increase was attributed to the share ofprogressive recognition of profit from the sale of units … Read more
Hotel Plaza’s Q3 net profit slips 4%, sees lower sales
Hotel Plaza on Wednesday said its net profit for the third quarter ended September 30, 2008 slipped 4 per cent to S$13.53 million. Revenue for the quarter inched up 2 per cent from a year ago to S$77.72 million. The increase was due largely to better performance from its Singapore hotels and offset by weaker … Read more
Fewer cluster homes may be built
But congestion will be reduced and newer units can be bigger Developers may soon build fewer strata-titled landed homes – also known as cluster homes – which in recent years have become increasingly popular. The Urban Redevelopment Authority (URA) is reinstating an old rule early next year which analysts expect to leave developers less inclined … Read more
Citi launches special home loan for rich
WELL-HEELED banking customers, with properties in Singapore and abroad, are being offered a first-of-its-kind product by Citibank Singapore. The product, launched yesterday, allows these affluent types to consolidate their mortgage financing on residential properties held here and abroad into an all-in-one overdraft that they can use at their convenience. These clients are Citigold Select customers … Read more
New Citi overdraft ties global mortgages
CITIBANK Singapore is offering an overdraft to affluent clients collateralised on their global properties. The bank said that its global home financing solution allows high net worth clients to consolidate mortgage financing on residential properties here and abroad into one overdraft that they can use at their convenience. ‘It’s aimed at customers whose properties have … Read more
Tuan Sing’s Q3 profit plunges
TUAN Sing Group yesterday reported that its net profit for the third quarter ended September 30, 2008 sank 94 per cent compared with a year ago to $814,000. Earnings per share (EPS) was 0.1 cent for 3Q2008 versus 1.3 cents for 3Q2007. This was because its results were dragged down by its share of $6.9 … Read more
P-Reit remains optimistic on outlook
AMID challenging market conditions, the manager of Parkway Life Reit (P-Reit) remains optimistic about its outlook and has already repositioned its finances so that it can be more flexible. The healthcare property trust yesterday reported a third-quarter income available for distribution of $10.3 million, boosted by higher rental rates and income from recently acquired properties. … Read more
EGM not needed for Reit name change
WE refer to the letter, ‘Don’t support name change for MPReit’ (BT, Nov 4). As manager of Macquarie Prime REIT (MP REIT), we had in mid-February 2008 embarked on a process of reviewing strategic options for MP REIT aimed at unlocking potential value for MP REIT unitholders. As indicated in our latest results announcement and … Read more
Business park just for green companies soon
Singapore’s first business park devoted to companies that focus on environmentally friendly technology has been given the green light, officials revealed yesterday. The 55ha plot in Jalan Bahar in the north-west could eventually house companies that specialise in industries like solar power, water or fuel cell technology. The buildings themselves will be green, employing renewable … Read more
