Tag Archives: Guocoland

GuocoLand posts 32.3% fall in net to $13.5m for 1Q

Posted on 16 Oct 2009 | Comments Off on GuocoLand posts 32.3% fall in net to $13.5m for 1Q

Developer GuocoLand says the group reported a net profit of $12.4 million for the first quarter ended Sept 30, 2009 compared to a net loss of $2.8 million in the previous corresponding period. Gross profit was $31.7 million primarily contributed by property development projects in China.

The group’s revenue fell 37% to $95.7 million from $153.1 million respectively compared to the previous corresponding period.

The decrease was largely due to lower contribution from property development projects in Singapore as several projects were fully sold and completed during the previous financial year.

During the quarter ended Sept 30, 2009, the group launched Sophia Residence and Elliot at the East Coast. The group says the launches were well received and to date, the group achieved sales of 86% and 64% in Sophia Residence and Elliot at the East Coast respectively. Continue reading →

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Posted in Developers

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New property measures send STI tumbling

Posted on 15 Sep 2009 | Comments Off on New property measures send STI tumbling

Property counters down amid concern about the impact on sector

GOVERNMENT plans to crack down on excessive property speculation took the wind out of investors’ sails yesterday afternoon and sent the Straits Times Index (STI) lower.

On the first trading session of the week, the market had opened sluggishly as it took its cue from Wall Street’s weaker close last Friday, but it recovered in late morning trading.

But National Development Minister Mah Bow Tan’s announcement at lunchtime of measures to dampen any brewing property speculation hit sentiment dramatically.

He had said the scheme in which developers absorb the interest would be axed, while the confirmed list of land sales would be re-started, meaning a regular supply of sites and relieving the pressure on prices.

The news sent the market to its day-low of 2,631.48 points about half an hour before the end of the trading session, before it rallied slightly to 2,639.74 points. That was 41.29 points, or 1.54 per cent, down from last Friday and the lowest level since Sept 4.

Of the 30 STI component stocks, 24 were losers, three were unchanged and three were gainers. Continue reading →

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Posted in Property Market / Real Estate

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