{"id":101031,"date":"2018-11-08T11:20:54","date_gmt":"2018-11-08T04:20:54","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/aspials-property-business-revenue-nearly-quadruples\/"},"modified":"2018-11-08T12:02:46","modified_gmt":"2018-11-08T05:02:46","slug":"aspials-property-business-revenue-nearly-quadruples","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aspials-property-business-revenue-nearly-quadruples\/","title":{"rendered":"Aspial\u2019s property business revenue nearly quadruples"},"content":{"rendered":"


\nArtist\u2019s impression of the City Gate project in Singapore.
\nAspial Corporation\u2019s revenue for the first three quarters of 2018 more than doubled to $771.68 million compared to $354.93 million in the same period a year ago, revealed an SGX filing on Wednesday (7 Nov).
\nThe robust growth was driven by its property business, where revenue nearly quadrupled from $136.7 million a year ago to $525.8 million in the first nine months of 2018. This is primarily due to the progress recognition of sales from its City Gate project in Singapore, along with the settlement and handover of completed homes at its AVANT and Australia 108 projects in Melbourne.
\n\u201cWe are pleased that Group profit has improved significantly with the progressive completion and settlement for our two skyscraper projects in Melbourne \u2013 AVANT and Australia 108. Looking ahead, we also expect to continue to book revenue and profits as higher levels of Australia 108 are progressively completed and settlement made,\u201d said Aspial\u2019s CEO Koh Wee Seng.
\nConsequently, the firm\u2019s profit after tax surged to $41.08 million in the first nine months of 2018 versus $2.88 million previously.
\nFor Q3 2018 alone, Aspial\u2019s revenue jumped to $346.99 million versus the $109.4 million recorded during the same period last year, while profit after tax soared to $24.03 million from $1.28 million previously.
\nFor the last quarter of the year, the company expects to see better cash flow, with up to $228 million of proceeds anticipated from the settlement and handover of remaining units at AVANT and Australia 108.
\nAnother factor is that its City Gate project expects to receive its temporary occupation permit by end-2018.
\nThe project is being undertaken by Aspial\u2019s subsidiary World Class Land, while AVANT and Australia 108 are being developed by World Class Global.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Aspial\u2019s property business revenue nearly quadruples<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of the City Gate project in Singapore. Aspial Corporation\u2019s revenue for the first...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-101031","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-qhx","jetpack-related-posts":[{"id":81169,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/world-class-globals-melbourne-project-nearly-sold-out\/","url_meta":{"origin":101031,"position":0},"title":"World Class Global\u2019s Melbourne project nearly sold out","date":"February 27, 2018","format":false,"excerpt":"\r Artist\u2019s impression of the AVANT residential project in Melbourne. Singapore-listed developer World Class Global (WCG) has sold more than 96 percent of the 456 units at its 56-storey AVANT residential project in Melbourne, recording total sales of AU$252.7 million (S$261.96 million). According an SGX filing on Tuesday (27 February),\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aspial-corp-to-list-property-arm-in-singapore\/","url_meta":{"origin":101031,"position":1},"title":"Aspial Corp to list property arm in Singapore","date":"May 18, 2017","format":false,"excerpt":"\r Aspial Corp carries out its property development business in Malaysia and Australia through World Class Global\u00a0which unveiled three projects for sale \u2013 Melbourne\u2019s AVANT residential project (pictured), Australia 108 condominium and Nova City in Cairns. In an effort to raise funds for working capital as well as property purchase\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62970,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uol-net-profit-up-59-in-q2\/","url_meta":{"origin":101031,"position":2},"title":"UOL net profit up 59% in Q2","date":"August 7, 2017","format":false,"excerpt":"\r Mainly due to higher revenue recognition from its Singapore condominium project, Principal Garden, UOL saw its net profit increase from\u00a0S$68.8 million in Q2 2016 to S$109.4 million in the second quarter of 2017. (Image: UOL Group Limited) Despite a 59 percent increase in net profit in Q2 2017, UOL\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71242,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-profit-up-28-1-in-q3\/","url_meta":{"origin":101031,"position":3},"title":"CapitaLand profit up 28.1% in Q3","date":"November 8, 2017","format":false,"excerpt":"\r Funan Mall redevelopment that cost $560m, targeted to be completed in Q4 of 2019. (Photo: Capitaland) CapitaLand saw its net profit for the third quarter of 2017 increase 28.1 percent to $317 million from $247.5 million over the same period last year. It attributed the hike primarily to fair\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62402,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/roxy-pacific-net-profit-down-26-in-q2\/","url_meta":{"origin":101031,"position":4},"title":"Roxy-Pacific net profit down 26% in Q2","date":"August 1, 2017","format":false,"excerpt":"\r Artist\u2019s impression of LIV on Sophia, an apartment project that is expected to be completed in 2018. Roxy-Pacific Holdings saw its net profit drop 26 percent to $14.7 million in Q2 2017 from $19.9 million over the same period last year. Revenue also declined 21 percent from $98.4 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68936,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-group-posts-47-5-revenue-drop\/","url_meta":{"origin":101031,"position":5},"title":"Lian Beng Group posts 47.5% revenue drop","date":"October 13, 2017","format":false,"excerpt":"\r Lian Beng Group\u2019s revenue slumped by 47.5 percent year-on-year to $37.18 million in the first quarter ended 31 August 2017 primarily because of lower contributions from its construction business, revealed an SGX filing on Thursday (12 October). Consequently, gross profits and its earnings for the period fell by 33.1\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101031"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=101031"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101031\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=101031"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=101031"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=101031"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}