{"id":54787,"date":"2017-05-15T09:50:02","date_gmt":"2017-05-15T02:50:02","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/heeton-posts-12-4-rise-in-q1-revenue\/"},"modified":"2017-05-15T09:58:46","modified_gmt":"2017-05-15T02:58:46","slug":"heeton-posts-12-4-rise-in-q1-revenue","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heeton-posts-12-4-rise-in-q1-revenue\/","title":{"rendered":"Heeton posts 12.4% rise in Q1 revenue"},"content":{"rendered":"


\nProfit shares\u00a0from associated firms and joint ventures slumped from S$6.26 million to S$2.11 as Heeton stopped recognising earnings\u00a0from completed residential projects NEWest, KAP\u00a0and KAP Residences (pictured) (Image: Oxley Sanctuary Pte. Ltd.).
\nHeeton Holdings Limited\u2019s revenue increased by 12.4 percent to S$15.49 million in the first quarter of 2017 compared to S$13.79 million in the same period last year, revealed an SGX filing on Friday (13 May).
\nThe gain in revenue was mainly due to the recognition of higher sales proceeds from residential project Onze@Tanjong Pagar amounting to S$9.78 million, up from S$7.08 million in the first quarter of 2016.
\nHowever, net profit plunged by 56.8 percent to S$2.52 million from S$5.84 million in Q1 2016 because of the absence of earnings from completed projects.
\nSimilarly, the share of profit from associated firms and joint ventures slumped by 66.2 percent to S$2.11 million versus S$6.26 million as Heeton stopped recognising earnings from residential projects KAP, NEWest, and KAP Residences, following their completion in Q4 2016.
\nMeanwhile, the developer is cautiously optimistic regarding the short term outlook for Singapore\u2019s residential property market as home prices appear to be stabilising.
\nBased on the latest data from the Urban Redevelopment Authority (URA), the rate of decline in private home prices slowed down to 0.4 percent in Q1 2017 compared to the 0.5 percent dip in the previous quarter.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Heeton posts 12.4% rise in Q1 revenue<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Profit shares\u00a0from associated firms and joint ventures slumped from S$6.26 million to S$2.11 as Heeton...<\/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-54787","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-efF","jetpack-related-posts":[{"id":28901,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heeton-sells-ilivgrange-for-95m\/","url_meta":{"origin":54787,"position":0},"title":"Heeton sells iLiv@Grange for $95m","date":"October 7, 2016","format":false,"excerpt":"\r The 30-unit condominium at Grange Road was sold to private investors. Source: Mercurio Design Lab Property developer Heeton Holdings has sold its entire stake in the 16-storey iLiv@Grange condominium project. In an SGX filing last week, the company revealed that the disposal was made through a sale of the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":61274,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heeton-holdings-koh-brothers-sell-joint-venture-for-s41-6mil\/","url_meta":{"origin":54787,"position":1},"title":"Heeton Holdings, Koh Brothers sell joint venture for S$41.6mil","date":"July 20, 2017","format":false,"excerpt":"\r \u00a0 Heeton Holdings, via its wholly-owned subsidiary Heeton Land Pte Ltd, along with Koh Brothers\u2019 unit, Koh Brothers Development, have sold their respective 50 percent shareholdings in their joint venture company Buildhome to Central Core for S$41.6 million. Buildhome developed and owned the property known as \u201cThe Lumos\u201d on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74302,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heeton-looks-to-brighter-future-after-paying-22-5mil-in-qc-charges\/","url_meta":{"origin":54787,"position":2},"title":"Heeton looks to brighter future after paying $22.5mil in QC charges","date":"December 12, 2017","format":false,"excerpt":"\r View of iLiv@Grange, a freehold condominium at 74 Grange Road. Heeton Holdings is now on the road to recovery after completely disposing of two housing developments, from which it incurred penalties totalling about $22.5 million for previously failing to sell all units within a specified timeframe, reported the Business\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81992,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/geylang-freehold-sites-bought-for-60mil\/","url_meta":{"origin":54787,"position":3},"title":"Geylang freehold sites bought for $60mil","date":"March 6, 2018","format":false,"excerpt":"\r A joint venture (JV) between Heeton Holdings, Lian Beng Group and KSH Holdings has completed the acquisition of several freehold land parcels at 31 to 51 (odd) Lorong 24 in Geylang for a total of $60 million on Monday (5 March). According to an SGX filing on released on\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74298,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/lian-beng-ksh-heeton-buy-geylang-properties-for-60mil\/","url_meta":{"origin":54787,"position":4},"title":"Lian Beng, KSH, Heeton buy Geylang properties for $60mil","date":"December 12, 2017","format":false,"excerpt":"\r Lian Beng Group Ltd, via its 42 percent-owned associated company Development 24 Pte. Ltd., has exercised an option to acquire the freehold properties known as 31 to 51 (ODD) Lorong 24 Geylang. KSH Holdings and Heeton Holdings also holds a 48 percent and 10 percent stake in Development 24.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53169,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/tuan-sing-net-profit-fell-44-in-q1\/","url_meta":{"origin":54787,"position":5},"title":"Tuan Sing net profit fell 44% in Q1","date":"April 28, 2017","format":false,"excerpt":"\r Tuan 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\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\/54787"}],"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=54787"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/54787\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=54787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=54787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=54787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}