The long awaited Woodleigh Residences by SPH and Kajima finally opened its doors for preview over the weekend. There was a steady stream of visitors to the showflat while we were there. Although there was no queue at the show units, it wasn’t easy trying to get an ‘unblocked’ picture (because...
Exclusive * SoftBank Group Corp. is believed to be in negotiations to invest US$2 billion in WeWork Cos. Inc. in 2019. The potential investment is lower than the US$16 billion earlier reported to be earmarked by the Japanese multinational conglomerate for the American co-working space provider. * Singaporean property developer CapitaLand...
Capitaland Commercial Trust (CCT) has announced the completion of the divestment of Twenty Anson. The sale was originally announced on 29 June 2018, with CCT mentioning the sale consideration of S$516 million or S$2,503 per sqft based on the building's net lettable area. On the divestment, Mr Kevn Chee, CEO of...
2Q results highlights PREH reported a 2Q18 EBIT of S$41.9m, -26.5% yoy, on a 1.6% improvement in revenue to S$18.1m. Stripping out revaluations and other one-off gains, EBIT would have been marginally higher yoy. Net profit fell a greater 49.5% yoy to S$8.6m, eroded by lower EBIT and higher finance...
FPL’s 3QFY18 core PATMI of S$157m (-13% YoY) came in above estimates, due to faster-than-expected recognition of development profits in Singapore. Net gearing improved 6%pts QoQ but remains high at 89% and suggests that more properties are likely to be injected into its listed S-REITs. Also read: Parc Esta new launch...
Capitaland released a respectable set of results for 2Q2018. The following are excerpts from various equity research houses on the company's performance. CapitaLand reported 2Q18 net profits of S$605.5m, EPS of 14.4cts, +5.1% YoY. Core net profit of S$196.0m (-5.6% YoY) was below our expectation of S$226m, due mainly to...
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