SingHaiyi Group

SingHaiyi submits $271 mil winning bid for Sun Rosier condo

SINGAPORE (Sept 22): SingHaiyi Group has submitted the winning bid of $271 million for the collective purchase of the property known as Sun Rosier at 5A How Sun Drive.

The property is freehold with a site area of 13,568 sqm. No development charge and differential premium is payable for the redevelopment of the site to a gross plot ratio of 1.4.

SingHaiyi says the land site, located in an established residential area, will enable the company to expand its development portfolio in Singapore.

Singhaiyi 1Q earnings surge to $16.4 mil on higher revenue

SINGAPORE (July 27): Property group Singhaiyi reported 1Q18 earnings surged 7.5 times to $16.4 million from $2.2 million a year ago.

Revenue surged 26.4 times to $282.9 million from $10.7 million, lifted mainly by revenue recognised for the group’s completed Executive Condominium (EC) project, The Vales.

United Engineers owners said to pick Pua's Perennial for final talks

SINGAPORE (May 31): United Engineers’ largest shareholders picked Perennial Real Estate Holdings for final talks to buy the century-old Singapore property group, people with knowledge of the matter said.

Gordon Tang of Singhaiyi becomes substantial unitholder in OUE C-REIT

SINGAPORE (March 20): Chinese tycoon Gordon Tang has emerged as a substantial shareholder in OUE Commercial REIT (OUE C-REIT).

Tang, who heads property developer Singhaiyi Group, now owns 7.68% of OUE C-REIT, up from his previous holding of 4.88%, following a private placement.

Tang was a cornerstone investor in OUE Commercial REIT when it was listed in 2014.

Singhaiyi posts 52% earnings decline for 3Q

SINGAPORE (Feb 9): Singhaiyi property group reported earnings of $1.2 million for 3Q17, a 52% decrease from the earnings of $2.5 million in 3Q16.

For the quarter to December, revenue rose 20.8% to $12 million, from the sale of completed units in Vietnam Town in US.

However, this was dragged down by lower rental income owing to the ongoing asset enhancement initiative at Tri-County Mall in US.

Gross profit margins improved by 15.1 percentage points, on the back of an increase in revenue contribution from its property development projects in US.

SingHaiyi unveils design for new Grade A commercial building at 9 Penang Road

SINGAPORE (Jan 25): SingHaiyi Group property group has revealed its new Grade A commercial building at 9 Penang Road which is designed by P&T Group.

The development site sits on where Park Mall was formerly situated.

The project is estimated to cost $800 million and is undertaken through a joint venture partnership between Singhaiyi Group, Haiyi Holdings and Suntec Real Estate Investment Trust who have an interest of 35%, 35% and 30% respectively.

SingHaiyi's 4Q earnings nearly halved to $8.4 mil

SingHaiyi Group

SINGAPORE (May 27): SingHaiyi Group's earnings nearly halved to $8.4 million in the fourth quarter ended March 31, 2016, from $15.8 million a year ago.

Its gross profit margin narrowed 14.4 percentage points from a year earlier, owing to the change in revenue mix as more revenue from property development with a lower profit margin was recognised.

Revenue, however, surged 63.8% to $8.1 million from $5 million previously, mainly due to contribution from the company's DBSS project, Pasir Ris One and sales of completed units from Vietnam Town, a project in the US.

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