Thakral Corporation

Thakral adds Osaka office building to Japan property portfolio

SINGAPORE (Dec 30): Mainboard-listed Thakral Corporation is acquiring Umeda Pacific Building, an 11-storey office building in Osaka, to expand its property portfolio in Japan. 

The acquisition was made through the group’s recently incorporated subsidiary, Thakral Umeda Properties. 

According to the group, Thakral Umeda Properties is a pooled investment joint venture set up for further investors in Japan. 

Thakral acquires another Queensland property to expand retirement housing venture

SINGAPORE (Dec 3): Thakral Corporation is set to acquire another 46.4 hectares of prime land in Queensland, Australia, through its GemLife joint venture for over-50s retirement housing. 

In a regulatory filing on Tuesday, Thakral said that the land, located in Pimpama, within the Gold Coast region, will accommodate a world-class lifestyle resort for those aged above 50 years old. 

GemLife has committed about A$20 million ($18.7 million) to the resort, which will be its largest to-date.

Thakral records surge in 3Q earnings to $1.7 mil despite drop in revenue

SINGAPORE (Nov 7): Thakral Corporation saw its earnings surge more than seven-fold to $1.7 million for the 3Q19 ended September, from $222,000 a year ago.

Earnings per share (EPS) jumped to 1.31 cents for 3Q19, compared to EPS of 0.17 cent in 3Q18.

3Q19 revenue fell 28% to $27.7 million, on the back of China’s ongoing trade row with the US, the fallout in China of a key Japanese brand, and continuing unrest in Hong Kong.

This was partially mitigated by higher revenue from its Investment Division, which rose 24% to $9.6 million during the quarter.

Thakral acquires property in Queensland to expand GemLife's retirement housing venture

SINGAPORE (Sept 30): Mainboard-listed Thakral Corporation has acquired another property in Queensland, Australia, as part of its development venture of resort-styled retirement housing for those aged 50 and above. 

In a regulatory filing on Monday, Thakral says the latest acquisition, located on the Pacific Paradise on the Sunshine Coast, will expand GemLife’s rapidly growing portfolio to six resorts.

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.

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