{"id":23671,"date":"2016-08-23T08:30:45","date_gmt":"2016-08-23T01:30:45","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/wing-tai-reports-net-profit-slump\/"},"modified":"2016-08-23T12:14:15","modified_gmt":"2016-08-23T05:14:15","slug":"wing-tai-reports-net-profit-slump","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wing-tai-reports-net-profit-slump\/","title":{"rendered":"Wing Tai reports net profit slump"},"content":{"rendered":"


\nArtist\u2019s impression of The Tembusu condo in Kovan, which is almost fully sold.
\nProperty developer Wing Tai Holdings saw its net profit for the financial year ended 30 June 2016 plunge by 95 percent year-on-year to $59.4 million, while revenue dropped by 20 percent on year to $544.5 million.
\nThe group\u2019s earnings were attributed to the progressive sales recognised from The Tembusu and the additional units sold in Le Nouvel Ardmore, The Lakeview in China, as well as contributions from phase two of Jesselton Hills in Penang.
\nWing Tai\u2019s share of profits of associated and joint venture companies also dived by 50 percent to $59.4 million due to lower contributions from its Hong Kong associate.
\nOn a quarterly basis, the group\u2019s net profit plummeted by 98 percent to $1.88 million in the fourth quarter ended 30 June 2016, while revenue slid by 35 percent to $140.69 million.
\nShare of profits of associated and joint-venture companies dropped by 69 percent to $29.88 million.
\nWith this, earnings per share fell to 0.24 Singapore cent in Q4, or 0.91 Singapore cent for the financial year.
\nDespite this, Wing Tai still recommended a first and final dividend of three Singapore cents per share and a special dividend of the same amount.
\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…Wing Tai reports net profit slump<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of The Tembusu condo in Kovan, which is almost fully sold. Property developer...<\/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-23671","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\/p75ss1-69N","jetpack-related-posts":[{"id":26037,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-tembusu-condo-topped-out\/","url_meta":{"origin":23671,"position":0},"title":"The Tembusu condo topped out","date":"September 14, 2016","format":false,"excerpt":"\r There are fewer than 10 unsold units at The Tembusu, a freehold condo located near Kovan MRT station. (Photo: PropertyGuru) Property developer Wing Tai Holdings on Wednesday (14 September) topped out the construction of The Tembusu, a freehold condominium near Kovan MRT station. The development, built on the site\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122310,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/three-residential-sites-at-lentor-hills-road-jalan-tembusu-released-for-sale\/","url_meta":{"origin":23671,"position":1},"title":"Three residential sites at Lentor Hills Road, Jalan Tembusu released for sale","date":"October 1, 2021","format":false,"excerpt":"\r Three residential sites at Lentor Hills Road, Jalan Tembusu released for saleThree residential sites located at Lentor Hills Road (Parcels A and B) and Jalan Tembusu have been released for sale under the second half 2021 Government Land Sales (GLS) programme, revealed the Urban Redevelopment Authority (URA) on Thursday\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/lentor-gls-1-oct.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":135651,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tembusu-grand-at-katong-opens-for-preview-private-assisted-living-site-at-parry-avenue-draws-four-bids-and-more\/","url_meta":{"origin":23671,"position":2},"title":"Tembusu Grand at Katong Opens for Preview, Private Assisted Living Site at Parry Avenue Draws Four Bids, and More","date":"March 27, 2023","format":false,"excerpt":"\r Tembusu Grand at Katong Opens for Preview, Private Assisted Living Site at Parry Avenue Draws Four Bids, and More21st March \u2013 27th March 2023 City Developments Limited (CDL) and MCL Land opened Tembusu Grand for preview on 24 March 2023, with a one-bedroom plus study unit priced from $1.248\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/03\/68784216_s-Cropped.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":69856,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wing-tai-net-profit-surges-to-8-19m\/","url_meta":{"origin":23671,"position":3},"title":"Wing Tai net profit surges to $8.19m","date":"October 24, 2017","format":false,"excerpt":"\r Launched for sale on 30 May, Serangoon North Avenue 1 was acquired by Wing Tai and Keppel Land for $446.28 million. (Photo: URA) Wing Tai Holdings\u2019 net profit soared to $8.19 million in the first quarter ended 30 September from $1.06 million in the same period a year ago,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64594,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/upgraders-dominate-the-housing-market-says-wing-tai\/","url_meta":{"origin":23671,"position":4},"title":"Upgraders dominate the housing market, says Wing Tai","date":"August 25, 2017","format":false,"excerpt":"\r \u00a0 A \u201cstrange phenomenon\u201d has occurred in the housing market, in which home upgraders dominated the market, while foreign buying and speculative investment remains suppressed, reported the Straits Times. The phenomenon comes as upgraders pushed prices in new townships and traditional areas nearer to those in the fringe area\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":135962,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tembusu-grand-sells-53-of-units-on-launch-weekend-blossoms-by-the-park-preview-attracts-4000-people-and-more\/","url_meta":{"origin":23671,"position":5},"title":"Tembusu Grand Sells 53% of Units on Launch Weekend, Blossoms By The Park Preview Attracts 4,000 People, and More","date":"April 17, 2023","format":false,"excerpt":"\r Tembusu Grand Sells 53% of Units on Launch Weekend, Blossoms By The Park Preview Attracts 4,000 People, and More11 to 17 April 2023 City Developments Limited (CDL) and MCL Land\u2019s latest project, Tembusu Grand, sold 340 out of 638 units, or 53% of available units during its launch weekend.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/04\/private-home-hdb-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23671"}],"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=23671"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/23671\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=23671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=23671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=23671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}