{"id":71026,"date":"2017-11-06T11:04:55","date_gmt":"2017-11-06T04:04:55","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/oue-revenue-down-56-6-in-q3-2017\/"},"modified":"2017-11-06T12:02:59","modified_gmt":"2017-11-06T05:02:59","slug":"oue-revenue-down-56-6-in-q3-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oue-revenue-down-56-6-in-q3-2017\/","title":{"rendered":"OUE revenue down 56.6% in Q3 2017"},"content":{"rendered":"


\nOakwood Premier OUE Singapore is a 268-unit luxury serviced apartment, located in the heart of Singapore.
\nMainboard-listed OUE Limited saw its revenue for the third quarter of 2017 drop 56.6 percent to $182 million, due to the absence of $205.0 million non-recurring revenue registered on the sale of the extension to Crowne Plaza Changi Airport (CPEX) and lower contribution from the development property division.
\nThe decrease, however, was partially mitigated by higher contribution from its hospitality and healthcare divisions.
\nIn an SGX filing, the company revealed that revenue from its investment properties division and hospitality division increased to $67 million and $58.6 million, respectively, while revenue from OUE Twin Peaks fell to $38.5 million due to fewer sales completed during the period.
\nNonetheless, OUE Twin Peaks was fully sold as at October 2017, thanks to the group\u2019s active marketing effort.
\nRevenue from its healthcare division stood at $11.3 million.
\nEarnings before interest and tax (EBIT) fell 58.3 percent to $49.4 million, mainly due to the absence of $66.7 million non-recurring gain on disposal of CPEX posted in Q3 2016.
\nWith this, attributable profit plunged 90 percent to $10.7 million from $107.6 million previously.
\nLooking ahead, OUE executive chairman Dr Stephen Riady expects the commencement of operations at Downtown Gallery as well as Oakwood Premier OUE Singapore to further increase the group\u2019s \u201crecurring income base and enhance shareholder value, which has always been our focus\u201d.
\n\u201cWe remain committed to delivering stable earnings by identifying new opportunities and exploring potential to unlock synergistic gains,\u201d he added.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…OUE revenue down 56.6% in Q3 2017<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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Mainboard-listed OUE\u2019s profit for the first quarter of 2019 increased 0.3 percent year-on-year to $1 million, while revenue rose 1.2 percent year-on-year to $147.3 million.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":23335,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oue-acquires-nassim-sites\/","url_meta":{"origin":71026,"position":1},"title":"OUE acquires Nassim sites","date":"August 19, 2016","format":false,"excerpt":"\r View of the Nassim Road GCB plots. (Photo: CBRE) Property developer OUE Limited is going ahead with plans to acquire two land parcels at 28 Nassim Road for $56.6 million, after successfully tendering for the sites on 18 August. 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OUE Reef Development, an indirect fully-owned subsidiary of OUE, has entered\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44227,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/is-this-proof-that-singapores-luxury-market-is-recovering\/","url_meta":{"origin":71026,"position":3},"title":"Is this proof that Singapore\u2019s luxury market is recovering?","date":"February 15, 2017","format":false,"excerpt":"\r More robust figures than we\u2019ve become accustomed to A healthy 55 percent of units at The Peak @ Cairnhill II, a freehold 18-storey luxurious development in Singapore\u2019s prime Orchard Road district, were sold at launch in January. 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Data from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26067,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-indonesians-buying-luxury-singapore-real-estate\/","url_meta":{"origin":71026,"position":5},"title":"More Indonesians buying luxury Singapore real estate","date":"September 14, 2016","format":false,"excerpt":"\r Indonesians have already bought 30 properties in Singapore valued at USD5 million or more this year, up from just eight for the whole of 2015, data shows Singapore skyline. beboy\/Shutterstock The number of Indonesian nationals purchasing luxury homes in Singapore has nearly quadrupled from last year\u2019s total, reported Bloomberg.\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\/71026"}],"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=71026"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71026\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=71026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=71026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=71026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}