Latest news with #Coliwoo
Straits Times
5 days ago
- Business
- Straits Times
Coliwoo to convert state-owned property in Pasir Ris into 350-key resort chalet
An artist's impression of the proposed resort chalet is in the vicinity of Pasir Ris Beach, Downtown East and Wild Wild Wet. PHOTO: COLIWOO SINGAPORE - A Coliwoo unit was awarded the lease of a state-owned property in Pasir Ris, which the co-living brand will transform into a 350-key resort chalet. Coliwoo Keppel was among five bidders for the 159 Jalan Loyang Besar site in a tender launched by the Singapore Land Authority (SLA). The bids in the price quality method tender ranged from $98,000 to $225,900, with Coliwoo placing the second highest bid of $225,000. 'We are excited to be awarded the tender at 159 Jalan Loyang Besar, marking Coliwoo's strategic expansion into eastern Singapore and our first foray into resort-style co-living hospitality,' said Kelvin Lim, executive chairman of LHN Limited and founder of Coliwoo. Together with another Coliwoo property – in the former Bukit Timah Fire Station – to be launched soon, this development underscores the group's commitment to revitalising state-owned properties and injecting vibrancy into its surrounding neighbourhoods. 'We believe this project will set a new benchmark for co-living in Singapore, meeting the evolving needs of today's modern guests and travellers who seek flexible, community-driven living spaces that also offer a touch of escapism,' said Mr Lim. The property sits on a land parcel spanning 380,866 square feet. Currently, there are 20 two-storey buildings, four single-storey structures and several vehicle lots on-site. It is in the vicinity of Pasir Ris Beach, Downtown East and Wild Wild Wet. 'Guests can look forward to a wide range of wellness-centric facilities including swimming pools, indoor and outdoor sports zones, and meditation gardens,' Coliwoo said. The property will be Coliwoo's third largest, after Coliwoo Boon Lay and its flagship Coliwoo Orchard. Renovations will begin in the second half of 2025, with the chalet expected to be operational by the third quarter of 2026. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
6 days ago
- Business
- Business Times
Coliwoo to convert state-owned property in Pasir Ris into 350-key resort chalet
[SINGAPORE] A Coliwoo unit was awarded the lease of a state-owned property in Pasir Ris which the co-living brand will transform into a 350-key resort chalet. Coliwoo Keppel was amongst five bidders for the 159 Jalan Loyang Besar site in a tender launched by the Singapore Land Authority (SLA). The bids in the Price Quality Method tender ranged from S$98,000 to S$225,900, with Coliwoo placing the second highest bid of S$225,000. 'We are excited to be awarded the tender at 159 Jalan Loyang Besar, marking Coliwoo's strategic expansion into eastern Singapore and our first foray into resort-style co-living hospitality,' said Kelvin Lim, executive chairman of LHN Limited and founder of Coliwoo. Together with another Coliwoo property - in the former Bukit Timah Fire Station - to launched soon, this development underscores the group's commitment to revitalising state-owned properties and injecting vibrancy into its surrounding neighbourhoods. 'We believe this project will set a new benchmark for co-living in Singapore, meeting the evolving needs of today's modern guests and travellers who seek flexible, community-driven living spaces that also offer a touch of escapism,' said Lim. The property sits on a land parcel spanning 380,866 square feet (sq ft). Currently, there are 20 two-storey buildings, four single-storey structures and several vehicle lots on-site. It is in the vicinity of Pasir Ris Beach, Downtown East and Wild Wild Wet. 'Guests can look forward to a wide range of wellness-centric facilities including swimming pools, indoor and outdoor sports zones, and meditation gardens,' Coliwoo said. The property will be Coliwoo's third largest, after Coliwoo Boon Lay and its flagship Coliwoo Orchard. Renovations will begin in the second half of 2025, with the chalet expected to be operational by Q3 2026.
Business Times
15-05-2025
- Business
- Business Times
LHN net profit for H1 rises 8.8% to S$14.1 million
[SINGAPORE] LHN's net profit for the first half ended March 31 rose 8.8 per cent to S$14.1 million from S$13 million in the year ago period. The real estate management services group's revenue increased 29.4 per cent to S$70.6 million in H1, from S$54.5 million the year before. The increase was primarily attributed to revenue contribution from the property development business as well as an increase in revenue from the co-living business, LHN said on Thursday (May 15). Kelvin Lim, executive chairman and group managing director of LHN, said: 'The addition of (the) property development segment as a new revenue stream has significantly enhanced our financial resilience and growth potential amid the ongoing geopolitical uncertainties and a dynamic economic environment. 'Additionally, the ongoing growth and strong performance of our co-living business, Coliwoo, continue to provide a reliable and expanding revenue base.' Earnings per share stood at S$0.0338, a 6.6 per cent increase from S$0.0317 a year ago. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up This year, LHN recorded its maiden revenue contribution from its property development business from the sale of certain strata-titled units at 55 Tuas South Avenue 1, a nine-storey industrial development property. The group is also redeveloping property in Geylang into a strata-titled commercial building for retail and office use, with an estimated saleable area of over 28,000 sq ft. The project at Geylang will be LHN's second property development project. Revenue from the cleaning and related services and carpark management businesses rose 12.6 per cent to S$19.4 million in H1 2025 from S$17.2 million a year ago, LHN said. 'The profit improvement was mainly driven by new integrated facilities management contracts and car park management projects secured, coupled with the cessation of less efficient car park management projects in Hong Kong.' Revenue from LHN's energy business declined by 6.9 per cent to S$768,000 in H1. On Thursday, LHN said that the group remains cautiously optimistic on the demand for both short-term and long-term rentals for 2025. Private residential rents are projected to rise between 2 and 4 per cent in 2025 due to shrinking supply and improved economic conditions. The Singapore Tourism Board is expecting international visitor arrivals to reach between 17 million and 18.5 million in 2025, an increase from 16.5 million in 2024, driven by new attractions such as Minion Land, Rainforest Wild Asia in Mandai, a robust meetings, incentives, conferences, and exhibitions (Mice) events calendar and improved air connectivity. LHN said: 'The growing number of tourists will contribute to healthy demand for short-term lodging.' The group declared an interim dividend of S$0.01, unchanged from a year ago. Shares of LHN closed 1 per cent or S$0.005 lower at S$0.495 on Thursday.
Yahoo
12-02-2025
- Business
- Yahoo
4 Singapore Stocks I Plan to Buy if I Had S$30,000 to Spare
As we welcome February and the Year of the Snake, many of you may have received bonuses after a year of hard work in 2024. Armed with a stash of cash, you can either sock away this money or decide to invest it in promising businesses with good growth potential. I have a little mental exercise that I do when scouting for interesting investment ideas. By imagining that I have S$30,000, I then decide which stocks I want to put my money in and justify these decisions with properly-researched reasons. With another such exercise just concluded, here are four Singapore stocks that I could put my money in if I had a tidy sum of money to spare. LHN is a real estate management services group with an expertise in space optimisation to create value for both landlords and tenants. The group has four business segments in space optimisation, property development, facilities management, and energy, and operates in Singapore, Indonesia, Myanmar, Cambodia, and Hong Kong. LHN reported a strong set of earnings for its fiscal 2024 (FY2024) ending 30 September 2024. Revenue climbed 29.2% year on year to S$121 million while gross profit stood at S$62.2 million, up 20% year on year. Net profit from continuing operations soared 155.1% year on year to S$47.3 million. The group saw a 37.7% year-on-year revenue increase for its space optimisation business while its facilities management division posted a 13.4% year-on-year increase in revenue. The business also generated a positive free cash flow of S$23.5 million for FY2024. A final dividend of S$0.01 was declared along with a special dividend of S$0.01, similar to what was paid out in the previous fiscal year. Together with an interim dividend of S$0.01, the total dividend for FY2024 amounted to S$0.03. For FY2025, the group plans to expand its Coliwoo offerings with new developments that should add over 250 keys to its current operations. For facilities management, LHN will expand its car park business by securing more vehicle parking management contracts in Singapore. Valuetronics is an integrated electronics manufacturing services provider with two business segments – consumer electronics (CE) and industrial and commercial electronics (ICE). The group owns two manufacturing facilities in China and Vietnam. The manufacturing company reported a mixed set of earnings for the first half of fiscal 2025 (1H FY2025) ending 30 September 2024. Total revenue fell by 3.3% year on year to HK$862.1 million. The fall was caused by weakness in the CE division which saw revenue plunge by 17.6% year on year to HK$193.4 million. This decline was partially offset by a 1.8% year-on-year increase in revenue for the ICE segment to HK$668.7 million. Valuetronics saw its gross margin improve slightly to 16.8% for 1H FY2025, compared with 15.6% a year ago. Net profit climbed 10.2% year on year to HK$90.5 million. The group generated a positive free cash flow of HK$52.7 million for the half year. Valuetronics had HK$1.2 billion of cash on its balance sheet with zero debt. An interim dividend of HK$0.04 and special dividend of HK$0.04 were declared, bringing the total dividend for 1H FY2025 to HK$0.08, unchanged from last year. Valuetronics will continue with its strategy of allocating more resources towards newly-acquired customers with higher growth potential and better margins. UMS Integration provides equipment manufacturing and engineering services to original equipment manufacturers (OEMs) of semiconductors and their related products. For the first nine months of 2024 (9M 2024), UMS Integration reported a downbeat set of earnings as the semiconductor downturn impacted its revenue and profits. Revenue fell by 23% year on year to S$174.9 million while net profit plunged by a third year on year to S$29.5 million. Despite the lower profit, UMS Integration still generated a positive free cash flow of S$7.4 million for 9M 2024. An interim dividend of S$0.01 was paid out, a slight decline from the prior year's S$0.012. CEO Andy Luong remains optimistic about the future as the semiconductor outlook appears promising. US fab capacity is projected to triple by 2032, and the Semiconductor Industry Association forecasts significant improvements in the resilience of the supply chains in both the US and globally in the coming years. UMS Integration's new key customer is asking the group to ramp up production in a sign that business conditions are improving. Grand Venture Technology, or GVT, is a solutions and services provider for the manufacture of complex precision machining, sheet metal components, and mechatronic modules. The group reported an upbeat set of earnings for 9M 2024. Revenue jumped 35.8% year on year to S$111.9 million while gross profit leapt nearly 47% year on year to S$29.5 million. Net profit climbed 33.5% year on year to S$6.3 million. Chipmakers are focusing more on high bandwidth memory (HBM), a key enabler for AI workloads and data-intensive applications. GVT expects to capitalise on this growing demand for HBM and is in active engagement with blue-chip customers across the semiconductor value chain. Just last month, GVT announced a key win from a global leader in fabrication equipment and services for TSV (Through-Silicon VIA). Such front-end wins should drive more opportunities for the group to enjoy multi-year revenue growth starting from 2025. Global trade tensions and rising tariffs are causing market volatility, but smart investors know how to stay ahead. Join our free webinar, 'Your Secret Weapon To Fight The Tariff War,' to learn how you can protect your portfolio and generate steady income, even in uncertain times. Click here to sign up for free now! By the time your child grows up, inflation will have gobbled up their savings. If you not only want to protect their money but also grow it, there are 3 SGX stocks you can consider buying. One has already proven to give a 55.8% dividend pay rise. Get all the details in our latest special FREE report. Just click here. Disclosure: Royston Yang does not own shares in any of the companies mentioned. The post 4 Singapore Stocks I Plan to Buy if I Had S$30,000 to Spare appeared first on The Smart Investor.
