Tag Archives: City Developments Limited

Singapore stocks may open higher; property stocks in focus

Posted on 30 May 2011 | Comments Off on Singapore stocks may open higher; property stocks in focus

Singapore shares may open up on Monday after Wall Street closed higher, but weak US data on consumer spending and housing may raise concerns about the recovery of the world’s largest economy and temper bigger gains.

Singapore’s benchmark Straits Times Index <.FTSTI> rose 0.38% on Friday to 3,135.52 points. Here are some stocks and factors to watch:

Property stocks such as City Developments (CTDM.SI) and Keppel Land (KLAN.SI) may be in focus after the Singapore government announced over the weekend that it is planning to build more government housing to meet the backlog in demand.

Singapore brokerage Kim Eng (KEHS.SI) said on Friday its first quarter net profit rose 3.4 percent from a year earlier to $15.6 million, helped by higher commission and trading income as well as interest income.

Singapore-listed Chinese wastewater treatment firm Sound Global (SOGL.SI) said on Friday it had won a bid for a rural improvement project in Fushun County, China. The investment for the project is about 225 million yuan ($42.9 million), the firm said.

Singapore-listed life sciences firm Transcu (TRSU.SI) reported on Friday 2011 net loss of US$16.6 million ($20.5 million), narrowing from a net loss of US$29.2 million a year earlier, helped by higher contribution from its cosmetics business.

Singapore-listed Renewable Energy Asia Group (REAG.SI) reported 2011 net loss from continuing operations of 39.1 million yuan ($7.4 million), compared with net loss of 11.9 million yuan a year earlier, hurt by lower production volumes and higher production cost per unit.

Source : The Edge – 30 May 2011

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Posted in Funds, General

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More buildings going green

Posted on 18 May 2011 | Comments Off on More buildings going green

More buildings are going green.

This year, the Building and Construction Authority (BCA) is giving out a record number of BCA Green Mark awards to 164 winners, up from 102 last year.

Singapore is a step closer to the national target of “greening” 80 per cent of buildings by 2030.

The Green Mark Scheme was introduced in 2005 to recognise water and energy efficient buildings. And as of 2008, all new buildings are required by law to meet a basic Green Mark standard.

BCA said a series of green incentive schemes has encouraged many developers to go beyond the mandatory.

Incentives include additional floor area, which could translate to higher profit, as well as reimbursements for engaging environmental experts, who can help in achieving an energy-efficient design for buildings.

Organisations that voluntarily go the extra mile are given the Green Mark Gold, Gold Plus and Platinum awards.

Among them is private developer City Developments Limited (CDL).

It clinched more than 50 Green Mark Gold & Above awards, of which 16 are Platinum awards.

For this track record, CDL earned the inaugural BCA Green Mark Platinum Champion Award this year.

Apart from installing green features like water-efficient taps and energy-saving light bulbs, CDL said green development is about managing resources and harnessing Mother Nature.

And it can be cost-effective too.

Allen Ang, Deputy GM of Projects Division with CDL said: “Using green technology such as pre-fabrication, pre-fab bathrooms actually helps us reduce a lot of natural resources; not just materials, but manpower. And as you know, manpower is expensive.

“If the environment is sited such that we can orientate the building towards the north-south orientation, it also helps us to reduce air-con capacity in cooling our apartments. And in so doing, reduce the treatment cost for the glass of the facade.”

The BCA Green Mark Champion Award went to the Housing and Development Board (HDB), the first public sector agency to receive the award.

HDB has completed 14 projects that attained at least Green Mark Gold status, five of which were rated Platinum.

Some of the award-winning green projects include Treelodge@Punggol, Waterway Terraces and SkyTerrace@Dawson.

With this year’s winners, there are more than 750 Green Mark building projects in Singapore, amounting to 11 per cent of the total gross floor area.

Source : Channel NewsAsia – 17 May 2011

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Posted in Construction, General

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