S’pore may be among the first to recover from global economic slowdown
Economies such as Singapore and Hong Kong have benefited from the global economic boom in the last five years. But their open and exposed economies mean they are also vulnerable to recessionary pressures as the world economy slows down. However, Morgan Stanley said it is not all doom and gloom for Singapore. Experts said the … Read more
HDB launches 750-unit Punggol Arcadia under BTO system
The Housing and Development Board (HDB) has launched Punggol Arcadia, a 750-unit project under its Build-To-Order (BTO) system. The project is at the junction of Punggol Place and Punggol Field. Buyers can choose from 3-room, 4-room and 5-room units. The price of these flats range from S$181,000 for a 3-room unit to S$416,000 for a … Read more
CityDev’s net profit for Q3 2008 drops 11% to S$150.8m
Property firm City Developments (CityDev) has posted net profits of S$150.8 million for the third quarter of this year – down 11 per cent from last year. Revenue for the period came down 13.6 per cent to hit S$688 million. The firm said it would hold back the launch of new residential projects for the … Read more
CDL Q3 net profit slips 11%, defers South Beach project
City Developments has posted an 11 per cent drop in third quarter net earnings to S$150.8 million. Net profit for the first nine months of this year dipped 1.8 per cent to S$480.95 million. It also revealed that that the construction of the group’s South Beach project has been deferred. ‘Under the current economic turmoil … Read more
Koh Brothers’ Q3 net profit falls 22%
Koh Brothers Group Limited said net profit for the third quarter of this year fell 22 per cent to S$26.62 million compared to a year ago. Revenue fell 23 per cent to S$168.63 million. Source : Business Times – 13 Nov 2008
Ho Bee’s Q3 net profit falls 52.3%
Property Group Ho Bee said net profit for the third quarter this year fell 52.3 per cent to S$18.72 million compared to a year ago. Revenue was down 59.4 per cent at S$52.55 million. This was due mainly to the lower recognition of revenue from property development projects in the current quarter. It said the … Read more
Banyan Tree net profit falls 78% as Thailand business hit by political unrest
Banyan Tree Holdings has seen its third quarter earnings hit by political unrest in Thailand which affected its operations there. The resort developer and manager posted a 78 per cent on-year decline in net profit to S$14 million for the first nine months of the year to September. In the third quarter, the company reported … Read more
Banyan Tree sinks into the red for Q3
BANYAN Tree Holdings reported a net loss of $4.88 million for the third quarter ended 30 September 2008, and a flat revenue of $82.75 million as business was hit by the political turmoil in Thailand. In comparison, the company earned a net profit of $49.1 million in 3Q07, bolstered largely by a one-off exceptional gain … Read more
Hotel Royal’s Q3 net profit up 18%
Hotel Royal has reported a net profit of $2.55 million for the third quarter of 2008, an increase of 17.6 per cent over $2.17 million a year ago. Revenue for the quarter was $1.37 million, an increase of 17.4 per cent year-on-year. This was attributed to the stronger contribution by hotel operations. However, the group’s … Read more
Stamford Land’s Q109 net profit falls 26%
Stamford Land Corporation Ltd reported a 26 per cent drop in net profit for the fiscal first quarter ended September 30, 2008 to S$9.93 million compared to a year ago. Revenue was down 13.4 per cent to S$125.97 million. This was because lower revenue was recorded from sale of the Stamford Marque project. One remaining … Read more
