UOL Group net profit surges but it warns of disconnect between land cost and selling prices

SINGAPORE – UOL Group’s 2nd quarter net revenue rose 59 per cent to $109.4 million, enhanced by greater acknowledgment of revenue from apartment job Principal Garden. Higher contributions from associated business and reasonable value gains on financial investment homes also lifted the bottom line, the company stated on Friday. Earnings climbed by 10 percent year-on-year……

MAS proposes raising insurance coverage on bank deposits to $75,000 from $50,000

SINGAPORE – The Monetary Authority of Singapore (MAS) asked on Friday (Aug 4) for public feedback on proposals to enhance the deposit insurance scheme. The insurance coverage plan now safeguards deposits of approximately $50,000 in banks and financing firms. Singapore dollar-denominated deposits, such as those kept in a cost savings, fixed deposit or bank account,……

SPH investing $8.5m in Han Language Centre

Joint venture will establish Chinese-language education programmes and occasions Media and home company Singapore Press Holdings (SPH) has participated in a joint endeavor that involves investing as much as $8.5 million in Han Language Centre. SPH is signing up with forces with Mr Ann Jong Juan, the creator and principal of the Han Language Centre,……

Gong Cha comeback to be led by Mr Bean co-founder

Bubble tea chain selects F&B veteran to helm its go back to S’pore with make over and menu Bubble tea brand Gong Cha will be going back to Singapore under the leadership of Mr Kang Puay Seng, a co-founder and previously managing director of Mr Bean food and drink chain. Royal Tea Taiwan said in……

Forest City developer inks deals to boost township growth

The Chinese developer behind mega Johor task Forest City is wanting to grow the town in the wake of a more difficult outlook for home sales there. Country Garden PacificView, a joint venture company between Country Garden Holdings and Esplanade Danga 88, has actually signed memoranda of understanding with 21 companies in the areas of……

DBS net profit for Q2 rises 8% to $1.14b

DBS Group is delighting in strong growth momentum in its crucial services, but property quality pressures will continue in its oil and gas loan book, President Piyush Gupta said yesterday. The oil and gas sector, particularly companies doing assistance services, has actually seen higher non-performing loans in recent quarters as weak oil rates have actually……

Recommended by Construction firm fined $130,000 for repeated safety lapses at Hillview condo worksite

SINGAPORE – Construction firm Kingsford Construction Pte Ltd has been fined $130,000 under the Workplace Safety and Health Act for numerous safety lapses at a worksite, the Ministry of Manpower (MOM) said on Thursday (Aug 3). The company, which was convicted last Thursday, had actually been engaged to perform building works of Hillview Peak, a……

Three sent to hospital after multi-vehicle accident along MacPherson Road

SINGAPORE – Three people were injured after a multi-vehicle mishap happened along MacPherson Road on Friday (Aug 4) night. The mishap, which took place to Bendemeer Road before Aljunied Road, included a van, a vehicle, and a ComfortDelGro taxi. Police and the Singapore Civil Defence Force said they looked out to the mishap at 6.40……

Exhibition honouring the late Zaha Hadid opens at the ArtScience Museum

SINGAPORE – An exhibition showcasing the cutting-edge architecture and design of the late Zaha Hadid opens on Sunday (Aug 6) at the ArtScience Museum. The Zaha Hadid Architects: Reimagining Architecture Exhibition will showcase a curation of the late architecture doyenne’s transformational tasks around the world. The exhibit is a collaboration between Malaysian property designer UEM……

Singaporean man charged with Western Union armed robbery

SINGAPORE – A 58-year-old Singaporean male was charged in court on Saturday (Aug 5) with the heist that took place at the Ubi Avenue 1 Western Union branch on Tuesday (Aug 1). Hashim Hamzah, presumably armed himself with a knife before robbing the remittance outlet at around 10.40 am that day. He apparently robbed $4,000.……