{"id":64770,"date":"2017-08-28T10:14:06","date_gmt":"2017-08-28T03:14:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-q4-net-profit-soars-to-s244-85mil\/"},"modified":"2017-08-28T10:18:56","modified_gmt":"2017-08-28T03:18:56","slug":"guocoland-q4-net-profit-soars-to-s244-85mil","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-q4-net-profit-soars-to-s244-85mil\/","title":{"rendered":"GuocoLand Q4 net profit soars to S$244.85mil"},"content":{"rendered":"


\n\u00a0
\nDeveloper GuocoLand\u2019s net profit surged to $244.85 million in the fourth quarter ended 30 June 2017 from S$39.85 million in the same period a year ago, while revenue soared to S$407.37 million from S$214.48 million, revealed an SGX filing on Saturday (27 August).
\n\u201cGuocoLand has delivered a creditable set of results against the backdrop of a challenging operating environment. This is supported by healthy sales at our residential projects in Singapore and we are very pleased with the good leasing commitments at Tanjong Pagar Centre and Damansara City, our two flagship integrated developments in Singapore and Malaysia,\u201d said GuocoLand Group President and CEO Raymond Choong.
\nSEE ALSO:\u00a0GuocoLand to issue S$170mil bonds
\nFor instance, in Singapore, all the units at Goodwood Residence have been taken-up. Around 90 percent of the homes at the 381-unit freehold Leedon Residence have been bought as of 30 June, while 80 percent of the flats in the 1,024-unit Sims Urban Oasis have been taken-up.
\nHowever, GuocoLand\u2019s earnings for the whole of FY2017 dropped\u00a0to S$357.18 million from S$606.69 million in Q4 FY2016, while revenue increased from S$1.06 billion to S$1.11 billion.
\nThe company posted a lower profit mainly due to a drop in other income to S$318.2 million in FY2017 given that the one-time gain from the sale of subsidiaries associated with Beijing\u2019s Dongzhimen project was recognised in FY2016. Nevertheless, the drop was partially mitigated by fair value gains from investment properties of S$254.5 million largely attributed to Tanjong Pagar Centre\u2019s Guoco Tower.
\nChoong also revealed that they made a total of S$$1.4 billion in land acquisitions in the said year, including three locations in Singapore\u2019s District 9, Cheras in Malaysia and Yuzhong District in Chongqing, China. These sites are expected to yield a total gross floor area of about nine million sq ft.
\nFurthermore, the overall gross development value of the GuocoLand\u2019s new and existing projects has reached about S$10 billion as of 30 June 2017.
\n\u00a0
\nThis article was edited by Denise Djong.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…GuocoLand Q4 net profit soars to S4.85mil<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Developer GuocoLand\u2019s net profit surged to $244.85 million in the fourth quarter ended 30...<\/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-64770","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-gQG","jetpack-related-posts":[{"id":69546,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-net-profit-soared-to-165-6mil-in-q1\/","url_meta":{"origin":64770,"position":0},"title":"GuocoLand net profit soared to $165.6mil in Q1","date":"October 20, 2017","format":false,"excerpt":"\r GuocoLand saw its first-quarter net profit grow more than six-fold to $165.6 million from $25.6 million over the same period last year. Revenue soared 79 percent to $362 million from $202.8 million, mainly due to higher sales and progressive recognition from its residential projects in Singapore. The group\u2019s share\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":123959,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-unveils-two-new-senior-appointments\/","url_meta":{"origin":64770,"position":1},"title":"Guocoland unveils two new senior appointments","date":"December 24, 2021","format":false,"excerpt":"\r Andrew Chew will serve as Group Chief Financial Officer for GuocoLand and Valerie Wong as Group General Manager, Asset Management. GuocoLand has announced two new senior appointments, naming Andrew Chew as its new Group Chief Financial Officer and Valerie Wong as Group General Manager, Asset Management. Chew will succeed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/GUOCOLAND.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":123136,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/take-your-office-home-singapore-developer-guocoland-offers-dual-concept-flats\/","url_meta":{"origin":64770,"position":2},"title":"Take your office home: Singapore developer GuocoLand offers dual-concept flats","date":"November 10, 2021","format":false,"excerpt":"\r Capitalising on the current work-from-home trend, a Singaporean developer \ufeffhas launched a concept for a home that doubles up as an office.Flats at Midtown Bay in the city\u2019s central business district combine colour schemes and furniture designs to simulate an office\u2019s corporate look while featuring a spacious living and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":78747,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-q2-revenue-grows-60\/","url_meta":{"origin":64770,"position":3},"title":"GuocoLand Q2 revenue grows 60%","date":"February 2, 2018","format":false,"excerpt":"\r The strong financial results was due mainly to good sales and higher revenue recognition from Singapore residential projects. GuocoLand\u2019s revenue surged by 60 percent year-on-year to $370.56 million in the second quarter ended 31 December 2017, due mainly to higher sales and contributions from its housing developments in Singapore,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":67582,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-leads-nominations-for-propertyguru-awards\/","url_meta":{"origin":64770,"position":4},"title":"GuocoLand leads nominations for PropertyGuru Awards","date":"September 27, 2017","format":false,"excerpt":"\r Singapore\u2019s best residential, commercial, industrial and green properties will be awarded.\u00a0 More than 20 real estate projects from 16 companies and joint venture firms have been shortlisted for the PropertyGuru Asia Property Awards (Singapore) 2017, the most prestigious real estate competition here. Presented by Kohler and supported by PropertyGuru,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116527,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-obtains-730mil-green-loan-for-tan-que-lan-street-mixed-development-project\/","url_meta":{"origin":64770,"position":5},"title":"Guocoland obtains $730mil green loan for Tan Que Lan Street mixed-development project","date":"May 20, 2020","format":false,"excerpt":"\r The new mixed-development project at Tan Que Lan Street will be situated right above the Bugis MRT interchange station. Photo: Midtown Bay GuocoLand via its indirect subsidiaries, MTG Apartments and MTG Retail, has secured a $730 million green club loan from DBS Bank, OCBC Bank and ICBC Singapore Branch\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\/64770"}],"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=64770"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/64770\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=64770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=64770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=64770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}