Thakral Corporation

Thakral posts 31% drop in 1H earnings to $2.8 mil

SINGAPORE (Aug 6): Thakral Corporation reported earnings of $1.8 million in 2Q19 ended June, 7% higher than the earnings of $1.7 million in 2Q18.

This brought 1H19 earnings ended June to $2.8 million, 31% lower compared to earnings of $4.0 million in 1H18.

For 1H19, revenue came in at $50.4 million, 40% lower than $84.1 million a year ago.

Thakral adds another Osaka office building to portfolio

SINGAPORE (July 1): Thakral Corporation has acquired another commercial property in Osaka, Japan – the Nikke Yotsubashi building.

The latest investment increases Thakral’s portfolio of real estate investments in Japan to 11 properties. The properties cover three hotels and eight commercial/office buildings in Osaka, the second biggest metropolis.

Thakral 3Q earnings drops sharply to $0.2 mil on absence of valuation gains

SINGAPORE (Nov 8): Thakral Corporation reported 3Q18 earnings of $0.22 million, 99% lower compared to $33.5 million in 3Q17.

During the quarter, the group did not register a valuation gain on assets held for sale, as compared to $34.2 million seen in the same period last year from the group’s warehouse properties in Hong Kong and the related cost upon signing of the sales agreement.

Excluding these, the group would have made a net profit of $7.2 million for the current period, 11% higher than the previous year.

Thakral Corp acquires $66 mil worth of hotel & office properties in Osaka

SINGAPORE (Oct 1): Thakral Corporation says it has acquired a hotel and two office properties in Osaka, Japan, valued at JPY5.46 billion ($66 million) in total.

The group’s move comes as part of its overall strategy to broaden its asset & earnings base in order to capitalise on Japan’s strong economic fundamentals and tourism boom, according to Thakral in a press release on Monday.

Thakral Corp's 1H18 earnings rise 50% to $4 mil on higher revenue

SINGAPORE (Aug 2): Thakral Corporation reported a 50% rise in 1H18 earnings to $4 million compared to its earnings of $2.7 million a year ago. This came on the back of strong revenue growth from both its core businesses, investment and lifestyle.  

For the 2Q ended June, Thakral posted $1.7 million in earnings, up 45% from $1.2 million in 2Q17.

Revenue for 1H18 grew 18% to $84.1 million from $71.4 million in the previous year.

Thakral to acquire The Riverwalk office unit for $30 mil

SINGAPORE (May 21): Thakral Corporation on Monday announced the proposed acquisition of an office unit at The Riverwalk in Singapore for a total consideration of $30 million.

The proposed acquisition, which is an interested person transaction subject to approval by shareholders, will be made via a put and call option agreement signed between Thakral Corp and Thakral Investment Holdings.

Thakral reports 54% jump in 1Q18 earnings to $2.3 mil on higher revenue

SINGAPORE (Apr 26): Thakral Corporation reported a 54% jump in 1Q18 earnings ended March to $2.3 million from a year ago on the back of a 9% rise in group revenue to $40.3 million.

Thakral says the group’s robust performance comes with improvements from both its core business divisions.

The Investment Division of the group posted a growth of about 32% in revenues to $9.5 million from $7.2 million a year ago.

Thakral posts 85% rise in 4Q earnings to $1.5 mil

SINGAPORE (Feb 27): Thakral Corporation saw its earnings rise 85% to $1.5 million for the 4Q ended December, from $0.8 million a year ago.

This was mainly due to a profit of $1.2 million which was attributable to non-controlling interests in 4Q16. Net profit fell 34% to $1.3 million in 4Q17, from $2.1 million a year ago.

Full-year earnings surged to $37.7 million in FY17, from $0.4 million a year ago. This was due to a one-off gain of $33.9 million from the sale of its warehouses in Hong Kong completed during the final quarter of 2017.

Thakral invests in 6th Osaka property

SINGAPORE (Jan 31): Thakral Corporation on Wednesday announced it has invested another office building in Osaka, Japan.

The nine-storey Legal Itachibori Building will be Thakral’s sixth investment property in Japan, all located in Osaka.

The building has a gross building area of around 5,618 sqm and a net rentable area of 3,869 sqm. It currently has an occupancy rate of 82%.

The investment will be made through Thakral’s 50%-owned pooled investment vehicle, Thakral Japan Properties (TJP).

Thakral invests in 2 more properties in Osaka

SINGAPORE (Nov 29): Thakral Corporation has expanded its real estate footprint in Japan with two new investments – R Hotel Inns Osaka Kita Umeda and Namba retail redevelopment site in Osaka.

R Hotels Inn Kita Umeda is a 120-room business hotel which has recently been refurbished to the tune of JPY500 million ($6 million).

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