Tag Archives: UOL Group

UOL Group’s Q3 net earnings up 44% to S$105.6m

Posted on 14 Nov 2009 | Comments Off on UOL Group’s Q3 net earnings up 44% to S$105.6m

Mainboard-listed UOL Group on Friday said its third-quarter net earnings rose 44 per cent on-year to S$105.6 million.

This was on the back of a 21 per cent rise in revenue for the three months ended September to S$323.9 million.

UOL said progressive recognition of revenue from development properties helped boost its turnover in the quarter.

The company also recorded a higher share of profits from associated companies due to higher contributions from the progressive completion of Nassim Park Residences.

Looking ahead, UOL expects a more stable growth in Singapore’s residential market with the reinstatement of the confirmed list of the Government Land Sales programme.

Source : Channel NewsAsia – 13 Nov 2009

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UOL taking half-share in Rainbow site

Posted on 10 Oct 2009 | Comments Off on UOL taking half-share in Rainbow site

UOL Group is taking a half-share in the Rainbow Gardens site in Toh Tuck Road bought by the LaSalle Asia Opportunity II fund in a collective sale a few years ago.

The 999-year leasehold plot and an adjoining strip of state land total a land area of 130,164 sq ft. In its statutory filing with the Singapore Exchange (SGX) yesterday, UOL said planning approval has been granted for a condo project with a gross floor area of about 182,219 sq ft.

BT understands the Urban Redevelopment Authority’s (URA) approval for the site is for a five-storey condo with around 120 units although market watchers reckon that with UOL’s advent, the unit mix could be reconfigured.

In its statement, UOL said it will be investing a total of about $15.58 million for its half-share in a joint-venture company it has formed with the LaSalle fund. The sum UOL is investing comprises $1 million in ordinary shares, about $10.17 million in redeemable preference shares, and about $4.4 million in shareholders’ loans.

UOL said it and/or its subsidiaries will be appointed as the project and sales and marketing managers for the new condo to be built.

Source : Business Times – 10 Oct 2009

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