{"id":53169,"date":"2017-04-28T09:27:19","date_gmt":"2017-04-28T02:27:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-net-profit-fell-44-in-q1\/"},"modified":"2017-04-28T09:49:52","modified_gmt":"2017-04-28T02:49:52","slug":"tuan-sing-net-profit-fell-44-in-q1","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-net-profit-fell-44-in-q1\/","title":{"rendered":"Tuan Sing net profit fell 44% in Q1"},"content":{"rendered":"


\nTuan Sing\u2019s gross revenue declined by 29 percent year-on-year to S$74.8 million in the first quarter of 2017, while net profit slumped 44 percent to S$5.4 million as it has sold most of the units at its residential projects completed in 2016, revealed an SGX filing on Thursday, 27 April.
\nIncluding rental income from investment properties, the real estate segment accounted for 30 percent of the firm\u2019s total revenue in Q1 2017 at S$22.7 million versus S$48.9 million a year ago. At the same time, profit after tax from this source fell to S$2 million compared to S$7.1 million previously.
\nAs a result, earnings per share dipped from 0.8 cent in the prior year to 0.5 cent in the first quarter of 2017. Nevertheless, the company\u2019s net asset value per share inched up from 77.7 cents to 78.1 cents over the period.
\nMeanwhile, Tuan Sing plans to launch Kandis Residence in the third quarter of 2017, while another development is targeted to be unveiled in Q2 2018.
\nLocated near the Hillview MRT Station, the latter consists of around 100 condos sited on a freehold site at 1 Jalan Remaja that was purchased by the company earlier this month for S$47.8 million.
\nIn April 2017, Tuan Sing has also agreed to buy Sime Darby Centre at Dunearn Road opposite King Albert Park MRT Station for S$365 million.
\n\u201cIn due course, the group will reposition the property into a hub of activities that can serve the needs of the vast residential community in the vicinity. The completion of the transaction is expected to be in June 2017,\u201d it said in a statement.
\nSeparately, Tuan Sing intends to issue a second tranche of notes of around S$140 million in May 2017 under its Medium Term Note Programme. This is to finance the acquisition of the Sime Darby Centre and to meet an increase in working capital requirement for residential projects.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Tuan Sing net profit fell 44% in Q1<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Tuan Sing\u2019s gross revenue declined by 29 percent year-on-year to S$74.8 million in 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-53169","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-dPz","jetpack-related-posts":[{"id":54729,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/geographic-diversity-and-new-contracts-drive-depa-q1-profit\/","url_meta":{"origin":53169,"position":0},"title":"'Geographic diversity' and new contracts drive Depa Q1 profit","date":"May 14, 2017","format":false,"excerpt":"\r Dubai-listed interiors contractor Depa reported a jump in first-quarter profit as it secured new contracts. 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Conceptualised by award-winning architectural firm Ong & Ong,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12498,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-q1-net-profit-gains-14-1-per-cent\/","url_meta":{"origin":53169,"position":3},"title":"Abu Dhabi's Aldar Properties Q1 net profit gains 14.1 per cent","date":"May 10, 2016","format":false,"excerpt":"\r Abu Dhabi's Aldar Properties reported a 14.1 per cent rise in first-quarter net profit on Tuesday, maintaining its run of improving earnings.The state-linked builder of Abu Dhabi's Formula One circuit, which reported higher profits in nine of the preceding 10 quarters, made a profit attributable to equity holders of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":12514,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-aldar-properties-q1-net-profit-gains-15-per-cent\/","url_meta":{"origin":53169,"position":4},"title":"Abu Dhabi's Aldar Properties Q1 net profit gains 15 per cent","date":"May 10, 2016","format":false,"excerpt":"\r Aldar Properties reported a 15 per cent year-on-year increase in net profit for the first quarter of 2016 to Dh654 million.The Abu Dhabi-based developer attributed the increase to a growth in its recurring revenue, which increased by 10 per cent to Dh403m, which was largely due to the fact\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106783,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ho-bee-land-profit-down-44-in-q1-2019\/","url_meta":{"origin":53169,"position":5},"title":"Ho Bee Land Profit Down 44% In Q1 2019","date":"May 2, 2019","format":false,"excerpt":"\r This comes as share of profits from associates declined 85 percent \u201cdue to lower sales and profit recognition from a residential development project in Shanghai\u201d. Ho Bee Land saw its net profit for the first quarter of 2019 drop 44 percent to $27.7 million from $49 million over the\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\/53169"}],"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=53169"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/53169\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=53169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=53169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=53169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}