by Cheryl Tay Property, engineering and construction firm United Engineers (UE) has announced that its net attributable profit to shareholders dropped to S$9.74 million in the first quarter, from S$19.57 million during the same period last year. Excluding the one-off sale of UE Print Media Hub (pictured), the company said impairment losses on properties held for
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by Cheryl Tay Mapletree Industrial Trust (MIT) ended its financial year with robust results after recording a 24.3 percent jump in gross revenue to S$66.3 million during the fourth quarter ended 31 March 2012. This led the Singapore-focused Reit to post a 26.4 percent year-on-year increase in distributable income to S$35.8 million and offer a distribution
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Land prices in the parts of Thailand which were untouched by last year’s floods are expected to rise by 10 percent, according to new research from Knight Frank Thailand. The company’s Industrial Research team has revealed that December’s floods inundated seven industrial estates on the Eastern Seaboard, equivalent to 18.93 percent of the total supply
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Real estate consultancy Cushman and Wakefield (C&W) has seen a decline in the economic growth momentum in the fourth quarter of 2011. Its latest report on the Asia Pacific region highlighted a “sluggish growth in developed economies, as well as threats of new financial chaos looming in Europe”. This continued to dampen manufacturing activity in
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Mall operator CapitaMalls Asia (CMA) has announced that its net profit for the fourth quarter dropped 40 percent year-on-year to S$205.4 million, from the restated net profit of S$342 million over the same period last year. CMA said the board proposed a final dividend of 1.5 cents, with the total dividend for the year at
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The proposed CapitaGreen development, an iconic Grade A office tower, has broken ground at the former Market Street Car Park site, according to joint venture (JV) partners CapitaLand, CapitaCommercial Trust and Mitsubishi Estate Asia. The project is set to be completed by the fourth quarter of 2014. The name “CapitaGreen” was revealed, along with a
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CDL Hospitality Trusts (CDLHT) has posted a full-year gross revenue of S$141.1 million, up 15.4 percent from a year ago, with net property income surging 17.5 percent to S$135.2 million. This was mainly attributed to strong performance in its Singapore hotel assets, fuelled by growth in visitor arrivals as well as higher revenue per available
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Singapore-listed Cambridge Industrial Trust (CIT) has completed its acquisition of an industrial building from Tye Soon Limited for S$35.5 million. Located at Toh Guan Road East, the property comprises a five-storey warehouse building with ancillary office. CIT said the property has been leased back to Tye Soon for three years, with an option to renew
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Boosted by higher contribution from Starhill Gallery and Lot 10 in Kuala Lumpur, Singapore-based Starhill Global REIT (SGREIT) has recorded a 10.1 percent jump in net property income to S$180.1 million in the financial year 2011, with full-year revenue also surging 8.7 percent to S$180.1 million. “We are pleased to report a good set of
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CapitaRetail China Trust (CRCT) has announced that distribution per unit (DPU) in the fourth quarter 2011 climbed 10.1 percent to 2.28 cents, while DPU for the year hit 8.70 cents, up 4.1 percent from a year ago. “We are pleased to deliver a set of strong financial results with our nine income-producing malls operating at
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