Archive | October 24, 2007

Amber Glades up for en bloc sale at $145m

JUDGING by the asking prices of new collective-sale sites, it would seem there is no shortage of confidence in the property market. Amber Glades, off Amber Road on the East Coast, has just been put up for collective sale at an indicative price in the region of $145 million. And the buyer can also expect […]

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Reserve site up for sale, sparked by $7.8m bid

Committed sum for 17conservation shophouses comes to just $460K each With property prices hitting new peaks in recent times, it is rare to see a committed bid of just $7.8 million for a 15,200 sq ft site near the city centre. Based on the committed bid received by the Urban Redevelopment Authority (URA), each of […]

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Mapletree plans to list Reits, snap up new assets

Commercial trust may include VivoCity; company eyes big growth overseas (SINGAPORE) Mapletree Investments intends to list a commercial trust with a $3-$3.5 billion portfolio in the next six months as it moves to grow its fee income and expand its footprint overseas, says chief executive Hiew Yoon Khong. ‘Over the next four years we want […]

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KepLand Q3 net profit climbs 113%

Turnover surges 49.4% to $382m mainly due to robust residential sales KEPPEL Land, Singapore’s third-largest developer by market value, yesterday said that net profit for its third quarter more than doubled on strong home sales and higher office rents. Net profit for the three months ended Sept 30, 2007, hit $81.8 million, up 112.7 per […]

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Genting seeking $3.2b loan for Sentosa resort

GENTING International plc, a unit of Asia’s biggest casino operator by market value, is seeking to borrow a record S$3.2 billion to fund a casino resort in Singapore, three people with knowledge of the transaction said. The overseas unit of Kuala Lumpur-based Genting Bhd is adding to S$2.17 billion raised in a rights offer in […]

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MAS official casts light on two market risks

Deputy MD also calls on banks to update their stress test scenarios (SINGAPORE) THE recent credit crisis has put the spotlight on off-balance-sheet exposures and regulatory liquidity requirements, said Ong Chong Tee, the Monetary Authority of Singapore’s (MAS) deputy managing director. Two financial innovations most often cited as the culprits which caused the credit markets […]

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Sub-prime crisis negligible: Infosys CEO

The challenge to the company was the sudden appreciation of the rupee (NEW YORK) India’s No 2 software services exporter, Infosys Technologies Ltd, has felt a ‘negligible’ impact on its business from the US sub-prime mortgage crisis, its chief executive said on Monday. ‘Given our size, impact has been negligible,’ S Gopalakrishnan said in an […]

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Govt puts residential site in Woodlands up for sale

THE Government has launched for sale a residential site in Woodlands, which has been enjoying a buoyant property market of late despite its far-flung location. The Singapore Land Authority offered the 172,223 sq ft site in-between Woodlands Avenue 2 and Rosewood Drive in a tender that closes on Nov 20. The site can accommodate a […]

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September inflation rate eases to 2.7%

Consumer prices decline 0.3% from August, latest statistics show THOSE who think prices in Singapore just keep going up had a pleasant surprise yesterday when the latest inflation figures were released. Consumer prices rose at a slower rate of 2.7 per cent last month from a year earlier and eased from August’s 2.9 per cent. Not […]

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KepLand reports 113% increase in third-quarter profit

Developer chalks up $82m gain on strong sales; another player, CCT, reports steady growth SINGAPORE’S booming residential home market sent Keppel Land’s (KepLand’s) net profit in the third quarter rocketing by 112.5 per cent to $81.8 million. Turnover was at $382 million, up nearly 50 per cent from $255.6 million a year earlier. Singapore proved […]

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