Koh Brothers Group said net earnings for the first quarter ended March 31, 2012, rose 9% to $3.2 million compared to the year ago period due to higher profit contributed by real estate division.
Turnover slipped 28% to $58.67 million from a year ago.
Earnings per share improved to 0.68 cents compared to 0.61 cents in the year earlier period.
source : TheEdge 8 may 2012
Comments Off on Koh Brothers posts 9% rise in 1Q net earnings to $3.2m
Posted in Developers
Tagged Koh Brothers Group, Real estate
THE four property developers who jointly bought freehold Lincoln Lodge more than two years ago in a collective sale intend to launch the project tomorrow, they said yesterday.
The developers – Koh Brothers, Heeton Holdings, KSH Holdings and Lian Beng Group – paid $243 million for the District 11 property along Khiang Guan Avenue at the height of the property boom in June 2007. But they put off launching the project as the property market went south soon after.
Now, with the market seemingly staging a recovery, the 175-unit Lincoln Suites will be rolled out, beginning with invited guests tomorrow. The first phase of the launch will see 56 units offered at an average price of $1,680 per square foot (psf).
The consortium paid significantly more than the reserve price of $188 million for the project in 2007 as it was ‘very interested’ in the site. There were several bids for the site.
It was then estimated that the $243 million forked out worked out to $1,449 psf per plot ratio (ppr) including an estimated development charge (DC) of $413,000. Continue reading
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Posted in Developers, New Launches, Property Price
Tagged Developer Sales, Heeton Holdings, Koh Brothers Group, KSH Holdings, Lian Beng Group, Lincoln Suites, New Launches, Singapore Property, Singapore Property Market
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