ACN Newswire
Read More

Grand Ming Group Holdings Limited Announces Interim Results for the Six Months Ended 30 September 2022

indie
7 minutes

HONG KONG, Nov 12, 2022 - (ACN Newswire via SEAPRWire.com) - Grand Ming Group Holdings Limited (the "Company" and together with its subsidiaries, the "Group", stock code: 1271.HK) today announces its interim results for the six months ended 30 September 2022 ("FH 2022/23").Highlights-- Revenue amounted to HK$4.92 billion, an increase of 7.4 times from the last corresponding period.-- Profit for the period was HK$1.41 billion, representing a year-on-year increase of 19.4 times.-- Declared payment of an interim dividend of 6.0 HK cents per share.-- Stay positive toward lucrative business of owning and operating data centres via expanding portfolio of developing two new centres in near future.-- Seize opportunity to increase land reserve for property development in Hong Kong.-- Continue to execute the plan for property development in Nanning, Guangxi Province, China.The Group's consolidated revenue increased by 7.4 times from HK$586.1 million for the six months ended 30 September 2021 ("FH 2021/22") to HK$4,920.1 million for FH 2022/23. The Group recorded a net profit for FH 2022/23 was HK$1,410.2 million, representing an increase of 19.4 times when compared to that of HK$69.2 million...

SeaPRwire

When investors demand green buildings

elean
1 minute

(NYTIMES) - When the developer Lendlease opens its US$600 million (S$816 million) residential and office complex in Los Angeles, expected in 2025, the site will have the typical hallmarks of sustainable development: proximity to a light-rail stop, an all-electric residential tower, solar panels and a pedestrian plaza. But such features are considered commonplace these days. What makes this development more striking is how sustainability is not simply an amenity or signifier of corporate responsibility but a core feature of its financing plan. Please subscribe or log in to continue reading the full article. Get unlimited access to all stories at $0.99/month Latest headlines and exclusive stories In-depth analyses and award-winning multimedia content Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months* Subscribe now *Terms and conditions apply.

ACN Newswire
Read More

Ecopark launches world’s greenest residential complex

indie
3 minutes

Ecopark City, Vietnam, Sep 20, 2021 - (ACN Newswire via SEAPRWire.com) - Ecopark has launched Swan Lake Residences, world's largest onsen complex spanning 3,000 sqm, and the first of its kind in Vietnam. Ecopark is Vietnam's role model for a green residential complex, the largest of its kind in the country. It has received numerous awards for its beautiful landscaping and sustainable living. Perfect for people requiring exceptional living conditions for mental well-being, the total capacity of the Ecopark Project is about 110,000 residents. Hanoi, Vietnam, will be home to one of the most futuristic townships in the country, constructed specially to foster sustainability and human well-being.Ecopark launches Vietnam's largest residential complex (Hanoi, 9/2021). Undergoing development through multiple construction phases, Ecopark is a project of unparalleled capacity, estimated to cost about US$10 billion. Set within the Hung Yen Province, the Ecopark project will span 500 ha, with more than 20% of the area dedicated purely to natural elements, like flora, fauna, and clean water bodies. The Solforest Apartments shall consist of two luxury towers amidst thick forests and spectacular ...

ACN Newswire
Read More

HKC Announces 2020 Annual Results, Net Profit drops 36% to HK$241.6 Million

indie
3 minutes

HONG KONG, Mar 18, 2021 - (ACN Newswire via SEAPRWire.com) - HKC (Holdings) Limited ("HKC" or the "Company"; stock code: 190) has announced the consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2020 ("Period Under Review").Financial ReviewDuring the Period Under Review, turnover amounted to HK$1,184.0 million (2019: HK$1,036.9 million), and gross profit amounted to HK$662.2 million (2019:HK$682.4 million). Due to reduced higher-margin leasing revenues, gross profit margins dropped to 56% from 66% in 2019. The Group was also negatively impacted by a HK$98.4 million revaluation loss on its investment properties. This marks a reversal of the HK$91.9 million in gains recorded for 2019. As a result, net profit declined 36% to HK$241.6 million. Basic earnings per share amounted to HK39.5 cents, while basic earnings per share for the same period in 2019 were HK52.8 cents. Business ReviewAs regards residential projects, contracted sales were extremely sluggish during the first quarter of the year because of the impact of COVID-19, with sales offices closed and as local governments encouraged people to stay home. As COVID-19 i...

ACN Newswire

Haitong International Initiates an “Outperform” Research Report for Redsun Properties with Target Price at HK$3.39

indie
2 minutes

HONG KONG, Feb 3, 2021 - (ACN Newswire) - Redsun Properties Group Limited ("Redsun Properties", or the "Group", stock code: 1996) a leading comprehensive property developer in Mainland China has been given an "Outperform" initiate research report by Haitong International, with a target price of HK$3.39 backed by its dual-driven synergic in residential and commercial properties. Redsun Properties is a comprehensive property enterprise with an established presence in the Yangtze River Delta region and keenness on national expansion. It has experience in both of commercial property development/operation and residential property development, thus it geared up its strategic cooperation in acquiring land with proven efficacy, coupled with the dual-driven strategy, commercial/residential linkage, and improved quality and efficacy enhancement in operation. 76% of Redsun Properties' total landbank is located in 2nd-tier cities and 73% is located in the Yangtze River Delta region, with 55% in Jiangsu province. Haitong International thinks the Group has built good brand recognition in Jiangsu; this could also help it to obtain quality lands in this region. Although Redsun Properties' contract...

ACN Newswire

ABC International is Giving Redsun Properties “Buy” Rating with Target Price at HK$3.8

indie
3 minutes

HONG KONG, Jan 18, 2021 - (ACN Newswire) - Redsun Properties Group Limited ("Redsun Properties", or the "Group", stock code: 1996) a leading comprehensive property developer in Mainland China has been given a "Buy" rating by ABC International, with a target price of HK$3.8 backed by its impressive sales and steady rental.Driven by favorable geographic exposure to Yangtze River Delta region ("YRD"), Redsun Properties' contracted sales rose from RMB 25.7 billion in 2017 to RMB 86.5 billion in 2020, implying a CAGR of 50%. In 1H20, YRD accounts for 77% of the total contracted sales amount. As of June 2020, the Group had a landbank GFA of 18.37mn sqm, of which 55%, 18% and 27% of the landbank is located in Jiangsu, YRD ex. Jiangsu (mainly Zhejiang and Anhui), and other key cities in China. ABC International believes that the "Property+ Commercial" model of Redsun Properties enhances the chances of acquiring land at a low cost. While developing residential properties, the Group also operates a range of commercial properties that include shopping malls, amusement parks, community entertainment centers, hotels and office buildings. Most of these commercial property buildings are adjacent ...

SeaPRwire
Read More

Spotlight on single-owner plots, older CBD offices

elean
2 minutes

Single-owner plots and older central business district (CBD) offices are now in the spotlight as residential property developers eye strong residential sales. Cushman & Wakefield (C&W) expects more buzz in residential investment activity in the early part of 2021 as residential sales continue to keep pace, it said in its market outlook 2021 series. C&W executive director of capital markets Shaun Poh said the recent sale of the Guillemard-Jalan Molek site at $93 million has sparked a wave of interest among residential developers, particularly mid-sized ones, to look at sites that will help them ride the current cycle. These include single-owner plots and older CBD offices that can take advantage of the CBD Incentive Scheme which motivates owners of these buildings to redevelop their properties into mixed-use projects, including residential. Private residential prices registered a gain of 0.8 per cent in the third quarter of the year, compared with the second quarter, bringing prices to its peak since the third quarter of 2013. For the full year, sales are expected to come in at around 20,000 units, C&W said. Ms Christine Li, C&W head of research for Singapore and South-east Asia, sa...

SeaPRwire
Read More

How Covid-19 pushed the property market to adapt

elean
5 minutes

During the worst phase of the pandemic, many people wondered if the property market would come to a screeching halt and result in the greatest fall in prices since the turn of the millennium. However, the market proved to be quite resilient. And this did not come by sheer luck. First, government intervention through stimulus packages and jobs protection aid insulated Singaporeans from the full brunt of the economic slowdown and minimised the number of people affected by retrenchments or business closures. It was reported that around 150,000 jobs will be saved over these two years, with more than half of them by the Jobs Support Scheme. Second, the loan repayment moratorium helped to cushion the shock of job losses and these measures collectively helped prevent the widespread distress sale of homes. Statistics have shown that residential properties make up a large chunk of the Singaporean household balance sheet, with the other components being investments in financial products, insurance and savings. That developers received an extension to project completion times alleviated some of their stress. As a result, the market did not experience mass reduction of prices just to move unit...