News by The Edge Financial Daily

The Singapore Land Authority (SLA) yesterday said it would conduct the first-ever price and quality tender for the conserved state property at 26, 28, 30, 32 and 36 Orchard Road for commercial use.

For the three months ended March 31, The Business Times said, its gross revenue climbed 12.9% to S$88.4 million from the preceding year, mainly due to the rental contribution of its Sydney asset 177 Pacific Highway.

This was due in part to exchange losses from translation of the group’s UK and Malaysian subsidiaries, as a result of the weakening of the sterling pound and ringgit against the Singapore dollar.

An overwhelming 24 bids were submitted for the tender of a residential plot in Toh Tuck Road, the Urban Redevelopment Authority announced at the tender closing yesterday.

EWI said 23,568 applications for 473.66 million shares were received from the Malaysian public, against the 48 million shares available for subscription, which were offered at RM1.20 apiece.

Under the contract, Ikhmas Jaya is tasked to complete the piling and substructure work for two blocks of commercial buildings, which commenced yesterday and is to be completed by April 16 next year.

“The group’s strategy to focus on growing its commercial portfolio is bearing fruit, offering better earnings visibility. Coupled with opportunistic asset recycling of mature assets into its listed REITs (real estate investment trusts)/funds, there is ample upside potential to our earnings estimates,” DBS said.

The campaign will run for a period of three months, which includes clearing of potential Aedes breeding spots, fogging and distribution of informative pamphlets to residents.

Parkwood Developments Sdn Bhd, the property arm of steel pipe maker Amalgamated Industrial Steel Bhd (AISB), is offering early bird packages to buyers of its maiden property project called Avant Industrial Park in Shah Alam, Selangor.

Campaign will feature 20 traditional games at each venue and over 50 games as a whole...