Chip Eng Seng Corporation (Chip Eng Seng)

Chip Eng Seng announces opening of two pre-school centres in Singapore

SINGAPORE (Jan 3): Chip Eng Seng Corporation reported the opening of two pre-school centres in Singapore on Wednesday.

This includes the first Repton-brand pre-school centre and another by subsidiary, White Lodge Education Group Services (WLEGS).

Repton Schoolhouse is located at Alexandra Central. With a capacity of up to 138 placements, the centre caters to children between the age of two to six years old with programmes for nursery and kindergarten classes. In addition, the centre also offers before- and after-school care, to accommodate the schedule of working parents.

Sales momentum to turn cold; en-bloc activity to wane as developers rethink strategies

SINGAPORE (July 6): After warning of “market exuberance” in the property market for the past six months, the Singapore government has finally raised Additional Buyer’s Stamp Duty (ABSD) rates by 5 ppts and tightened Loan-to-Value (LTV) limits by 5 ppts.

In terms of demand, sales momentum is expected to turn cold. According to a Friday report by DBS Group Research, the combined impact of these measures raises the cost of ownership on an assumed $1.5 million property purchase by $75,000 for first-time buyer and $150,000 for investor.

Chip Eng Seng reports 30% fall in 1Q earnings to $6.1 mil on lower sales from construction

SINGAPORE (May 4): Chip Eng Seng, the property developer and construction firm, reported 1Q earnings fell 30% to $6.06 million from $8.6 million a year ago.

Group revenue increased 22.3% to $204.3 million from $167.1 million, mainly driven by robust contribution from the Property Developments and Hospitality divisions although revenue from Construction Division was lower.

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