Tag Archives: Developers

PROPERTY giant CapitaLand yesterday posted its first quarterly loss in six years and announced plans to raise $1.1 billion by issuing convertible bonds.

The money raised will be used primarily to refinance existing debts, said South-east Asia’s largest developer. Any balance left over will go towards new investments and working capital.

The firm announced a $156.9 million loss for the second quarter yesterday morning, its first red ink since the last quarter of 2003.

This was down from a net profit of $515.2 million in the same quarter last year. It was due to revaluations and impairment provisions for its office assets in Singapore, property in Australia and the former Char Yong Gardens estate here, CapitaLand said. Continue reading →

PROPERTY developers are enjoying the surge in interest from buyers but they do not believe that speculation has reached a stage where the Government needs to step in.

They also maintain that the prevailing economic conditions will begin to cool the buying frenzy and stop a bubble forming in its tracks.

‘It’s not a bubble, it’s just a blister after the pain we experienced in the global financial crisis and it comes before a recovery,’ said Cushman and Wakefield managing director Donald Han.

But some developers and industry insiders acknowledge that the comments from National Development Minister Mah Bow Tan this week are timely. Continue reading →