Property analysts say muted property market situation is temporary

Property analysts say muted property market situation is temporary
 
SINGAPORE: Investors have been cautious about the property sector amid expectations that the muted residential property market will weaken further. However, some property consultants are taking a slightly more positive stance, saying that this situation is temporary.
 
Transaction volumes for private homes have been thin, with developers [...]

Tian Hock Properties gets residential site at Choa Chu Kang Drive with $116m bid

Tian Hock Properties gets residential site at Choa Chu Kang Drive with $116m bid 
 
THE Urban Redevelopment Authority (URA) has awarded the tender for the residential site at Choa Chu Kang Drive to Tian Hock Properties Pte Ltd.
 
The company submitted the highest bid of $116 million in the tender for the 99-year-lease site, covering [...]

Ho Chi Minh City overtakes S’pore as having world’s fastest growth in office rentals

Ho Chi Minh City overtakes S’pore as having world’s fastest growth in office rentals
 
SINGAPORE: Vietnam’s Ho Chi Minh City has overtaken Singapore as having the world’s fastest growth in office occupancy cost.
 
The cost of renting office space in Ho Chi Minh City grew 94 percent in the last six months, according to a [...]

Boustead Singapore’s FY2008 profit rises 46% to S$51.5m

Boustead Singapore’s FY2008 profit rises 46% to S$51.5m
 
SINGAPORE: Infrastructure company, Boustead Singapore, said its FY2008 net profit rose 46 percent to S$51.5 million, while its revenue rose about 28 percent to S$438 million – the sixth straight year of record profits and revenues.
 
Boustead said its better showing was due to the buoyant environment and [...]

Govt awards CCK site to Tian Hock at $116m

Govt awards CCK site to Tian Hock at $116m 
 
The government has awarded the tender for the residential site at Choa Chu Kang Drive to Tian Hock Properties, which submitted the highest bid of 116 million dollars.
 
This works out to about 203 dollars per square foot of gross-floor area.
 
Five bids were submitted in total [...]

Metro’s FY08 net profit slips 4%

Metro’s FY08 net profit slips 4%
 
SINGAPORE – Metro Holdings on Wednesday reported net profit for the full year ended March 31, 2008 fell by 4 per cent to about $66 million (US$48 million).
 
Revenue for the year rose 4.78 per cent to $224.41 million driven mainly by its property development and investment division, whilst its [...]

UOB stays upbeat about future

UOB stays upbeat about future
 
Wee Ee Cheong thinks there are bright spots such as Singapore’s domestic fundamentals, and its regional efforts, writes CHOW PENN NEE
 
A LOOMING US recession, turmoil in the financial markets, high inflation and staff costs, compressed margins. This is the scenario facing banks this year.
 
Wee Ee Cheong, chief executive of [...]

Matriarch displaces son in Kwok family fight

Matriarch displaces son in Kwok family fight
 
She is taking over as chairman of Sun Hung Kai Properties
 
By JANE MOIR
IN HONG KONG
 
THE 79-year-old mother of the battling Kwok brothers has been appointed chair of Sun Hung Kai Properties, replacing her eldest son following a family dispute over control.
 
The board announced that Kwong [...]

Local banks slow down loan activity

Local banks slow down loan activity
 
Foreign banks step in to fill the gap as their local counterparts become more circumspect in extending loans due to industry limits, writes SIOW LI SEN
 
A CURIOUS thing is happening among lenders in Singapore. The local banks are slowing down their loans activity while foreign banks have taken [...]

Lessons from the sub-prime debacle

Lessons from the sub-prime debacle
 
Use the best available tools to uncover risks that are not discovered by mathematical means, write WINSTON NGAN and CHEN JEE MENG
 
WHAT started out as a domestic US mortgage problem spread across the globe like a tsunami. Notwithstanding that Asian financial institutions, compared to their US and European counterparts, [...]