Call to make refinancing of debt easier for S-Reits
ARA CEO John Lim suggests regulatory reviews to relax bank lending to S-Reits for the next few years to tide them over liquidity issues ARA Asset Management Group CEO John Lim would like to see refinancing of debt being made easier for Singapore real estate investment trusts (Reits). ‘The whole S-Reit market is oversold. The … Read more
Espada @ St Thomas Walk
Through an aspiration that made us reach for the stars, the ones that set us apart from the mundane, we have created a living that truly embraces you in rarity. Rising like a glistening jewel in the prestigious enclave of St. Thomas Walk, the magnificence of this 35-storey residence will own the attention of every … Read more
SingLand, UIC report higher Q3 net, bucking industry trend
SINGAPORE Land and its parent United Industrial Corporation have posted improved bottom lines for the third quarter and the first nine months of this year, defying the general trend among property groups this reporting season. SingLand’s net earnings for Q3 ended Sept 30 were $39.8 million, or 32 per cent higher than in the same period last year. Revenue … Read more
UIC’s 3rd-quarter profit soars 90%
REAL estate developer United Industrial Corp (UIC) yesterday posted a staggering increase in net profit of 90 per cent to $48.3 million for its third quarter ended Sept 30. Revenue was also up by 56 per cent to $212.2 million. Subsidiary Singapore Land (SingLand) also posted positive results, with net profit up by 32 per cent … Read more
Writedown math may sully developers
Bottom lines have already started to shrink in current reporting season SMALLER home developers have already started cutting prices and this will raise the pressure on other listed property groups to make writedowns. This will whittle bottom lines, which have already started to shrink during the latest quarterly reporting season. Back in 2001, developers such as CapitaLand and Keppel … Read more
Ex-CEO of CapitaMall Trust Mgmt joins DLF
PUA Seck Guan, the high-profile former CEO of CapitaMall Trust Management, is joining Indian real estate giant DLF to head its international operations. Mr Pua, 44, who will be based at DLF’s office at Suntec City, is CEO of DLF International. He will also lead DLF Trust Management Pte Ltd, BT understands. DLF was in the news here this year for … Read more
Third-quarter profits take a hit
PROPERTY was the theme of the week as developers such as City Developments and Ho Bee Investment took a hit from lower sales this quarter. This brings the total number of Singapore Exchange-listed companies reporting Q3 results to 298. Of these, 296 which have comparative results for the previous corresponding period have posted earnings of $6.51 billion, down 11.3 per … Read more
Wheelock takes $85m impairment loss on SC Global
WHEELOCK Properties’ losing bet on niche high-end developer SC Global Developments has left the firm with an impairment loss of $85 million. It bought a 10 per cent stake in SC Global in June last year at $6 per share or $112.1 million then, and purchased more on the open market this year. The share … Read more
