Southeast Asia´s biggest developer posted a net loss of S$156.9 million in the second quarter of 2009 after tax and minority interest compared to a profit of $515.2 million in the same period last year.
CapitaLand said the second quarter loss was due to the revaluations and impairment provisions it had taken in Singapore and overseas during the period as valuations declined due to the unprecedented global economic crisis.
CapitaLand said it had taken revaluations and impairment provisions primarily related to its Singapore office portfolio, real estate assets in Australia and the former Char Yong Gardens site in Singapore.
These include CapitaLand’s share of CapitaCommercial Trust’s revaluation losses. Continue reading
Recent Posts- Boon Lay Way land parcel attracts top bid of S$369 million
- Buoyant S’pore property sales spark fresh concerns
- Hotel site at Jurong Lake District up for sale by tender
- Unregistered Salesperson Sentenced to $40,000 Fine under the Estate Agents Act
- Bishan residents say no to nursing home
- Small apartment sub-index slips 1.2% in April
- Several pricey pads sold
- Prices of private resale homes edge up in April
- Flat owners sitting on a pot of gold
- Singapore mortgage data shows cooling measures work
- Chinese no longer the top foreign property buyers in Singapore
- Buyers see value in older Holland Road condos priced below $1,500 psf
3,086
631,791 
