Redas offers more insights after bleak reports
It calls meeting to advise analysts that URA data may not give full picture The recent string of negative reports on the property market has prompted the Real Estate Developers’ Association of Singapore (Redas) to engage analysts and offer them alternative sources of market data. This came as analysts have drawn very bearish conclusions in … Read more
Second Chance Pty’s Q109 net profit slips 2.8%
Second Chance Properties Limited said net profit for the fiscal first quarter ended September 30, 2008 slipped 2.8 per cent to S$5.36 million due to the unrealised gains recognized on fair valuation of the marketable securities a year ago. Revenue grew 22.43 per cent to S$19.18 million. The total bank borrowings amounted to S$51.6 million … Read more
Singapore government will not bail out Las Vegas Sands
The Singapore government said Wednesday it will not bail out the troubled US gaming firm Las Vegas Sands should it fail to fund the Marina Bay integrated resort. Senior Minister of State for Trade and Industry S Iswaran, speaking on the sidelines of an industry conference, said there has been no request from Sands for … Read more
SC Global’s Q3 net profit up 121%
SC Global Developments Ltd on Wednesday reported net profit for the third quarter ended September 30, 2008 more than doubled from a year ago to S$9.60 million. Revenue, however, fell 15 per cent to S$25.51 million. Revenue was contributed mainly from revenue recognition of units sold in its development projects, namely The Marq on Paterson … Read more
Allgreen’s Q3 net profit slips 11%
Allgreen Properties’ third quarter net earnings slipped 10.9 per cent to S$31.2 million. Revenue fell 8.2 per cent to S$113.4 million. For the first nine months of this year, Allgreen’s net earnings were down 41 per cent from the same year-ago period to $65.8 million, while revenue eased 35 per cent to $275.4 million. Source … Read more
Parkway earnings fall 95% without property disposal gains
Healthcare group Parkway Holdings on Wednesday reported a sharp year-on-year drop in earnings for the third quarter. Net profit fell 95 per cent to S$10.2 million, from S$224.6 million a year ago. This is because in Q3 2007, the company’s earnings were bolstered by gains from spinning its local hospital properties into a real estate … Read more
SC Global’s net profit rises 121% to S$9.6m in third quarter
Singapore mainboard-listed property developer SC Global Developments reported a 121 per cent rise in third quarter net earnings, compared to a year ago. Net profit for the three months ended September amounted to S$9.6 million. Revenue came in at S$25.5 million, down by 15 per cent on-year. For the first nine months of the year, … Read more
A Boon Lay for everyone?
Young and old, local and foreign, the vision includes all SOME 100,000 plants will be introduced. The neighbourhood park will be transformed into a theme park for both young and old. Boon Lay Shopping Centre will be revamped. The vision is to transform Boon Lay into a tranquil suburban residential enclave with a distinctive identity, and … Read more
No takers for Punggol EC site
IN THE latest sign of a weakening property market, a tender for an executive condominium (EC) site in Punggol closed yesterday with no bids received. Property consultants attributed the dearth of interest in the entry-level condo site to still-high construction costs and a lacklustre property market which is expected to trend lower. This is the … Read more
Punggol EC site fails to draw any bid
NO bid was received for an executive condominium housing site – despite its being attractively located in Punggol – by the time the tender closed yesterday. The 99-year leasehold site at the junction of Punggol Field and Punggol Road was launched for sale by the Housing & Development Board (HDB) on Sept 17. Property analysts … Read more
