15 | August | 2009 | Lush Dream Home

THREE of the original seven feuding families on the now infamous Everitt Road have moved out and since then life has been more peaceful.

The Chan family at 130B, who are at the centre of the dispute, says that calm has returned somewhat.

‘It’s quiet. They dare not rebut or gang up any more,’ said Madam Chua Gek Eng, 71, the mother of Dr Chan Soo Yin, 47.

In the past three years, their immediate neighbours – the Tan family and the Chua family – sold their houses, citing harassment as the reason.

The Gan family, right across from the Chans at 136C, have relocated to Shanghai.

Those left are the other Chua family in 136L, the Loh family in 136B, the Ee family in 136F and Gan’s parents in 136E. Continue reading →

SC Global net falls 32% in Q2

Posted on 15 Aug 2009 | Comments Off

SC Global Developments has reported a net profit fall of 32 per cent, to $7.8 million, for the second quarter ended June 30 from a year ago, dragged down by losses at its Australian unit AVJennings Ltd (AVJ) as well as a higher provision for share-based payments tied to incentive performance targets.

Revenue septupled to $226.4 million from the inclusion of revenue from AVJ. The group had in December 2008 raised its stake in AVJ to 50.03 per cent, making the latter a subsidiary.

Revenue during the quarter included progressive recognition of development projects in Singapore, including The Marq on Paterson Hill and Hilltops, based on progress of construction. Construction of another project, Martin No 38, also progressed to the stage where its maiden revenue recognition was included. In addition, revenue was recognised from Kairong International Gardens in Shenyang, China. Continue reading →