URA awards Prince Charles Crescent residential site to Wing Tai-led consortium

URA awards Prince Charles Crescent residential site to Wing Tai-led consortium

By: 
The Editor
01/10/12, 04:57 pm

URA has awarded the tender for the residential site at Prince Charles Crescent to a consortium comprising Wing Tai Holdings, Metro Australia Holdings and Maxdin Pte Ltd. The consortium submitted the highest bid of $516.3 million, or $960.3 psf ppr. The price is considered by property analysts to be a record. In a press release, Wing Tai’s deputy chairman, Edmund Cheng said the project would be a “new, differentiated residential development in response to demand from a highly discerning mid-end segment of the market”.

{jcomments on}

Advertisement

sentifi.com

Sentifi - The Edge Markets Singapore - Top themes and market

Credit Suisse unmoved by Wilmar’s 4Q beat

SINGAPORE (Feb 21): Credit Suisse is maintaining its “neutral” call on Wilmar International despite expecting strong 1Q17 results as there appears to be little earnings visibility going forward. Credit Suisse is revising up its FY17/18 earnings estimates by 3-4% and also upgrading its target price to $3.73 from $3.10 to take into account the more vibrant China and Singapore markets. In a Monday report, analyst Tan Ting Min says Wilmar should do even better in 1Q17 for a few reasons. Palm oil prices in USD are up 28% y-o-y; Fresh Fruit Bunch (FFB) output should rise as the impact of E....
Read More >>

Singapore banks' ‘AA–‘ and stable outlooks intact, says Fitch

SINGAPORE (Feb 21): Singapore’s local banks of ‘AA–‘ credit ratings and Stable Outlooks will continue to be supported by their adequate profitability, disciplined funding and liquidity and strong capitalisation, despite weaker asset quality, says Fitch Ratings. In the Singaporean Banks Report Card 2016 published on Monday, the ratings agency says the credit profiles of the three banks — DBS Group Holdings (AA-/F1+/Stable), United Overseas Bank (UOB, AA-/F1+/Stable) and Oversea-Chinese Banking Corp (AA-/F1+/Stable) — stayed resilient in 2016 in the face of a challenging operating....
Read More >>

PEC’s petrochemical plant business deserves a little more respect

SINGAPORE (Feb 21): KGI Securities says PEC’s current stock price of 60 cents “severely undervalues” the group’s profitable businesses that have been in operations since the 1980s. At this level, investors will be buying PEC’s profitable operations for free given PEC’s 58 cents net cash position, says analyst Joel Ng in a Monday report. Furthermore, industry cycle has bottomed and may recover in 2018, in our view. “We believe PEC could re-rate up to at least 73 cents... over the next few months on the back of further contract wins,” says Ng. PEC mainly services the ....
Read More >>