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  • Business
    EdgeProp

    Banyan Tree records $31.7 mil FY2023 earnings, declares 1.2 cents dividend

    Banyan Tree CEO Eddy See: This performance in FY23 is not only a financial success but also stands as a testament to our resilience post-pandemic (Photo: Albert Chua/The Edge Singapore)Hotel operator Banyan Tree Holdings recorded earnings of $31.7 million for the FY2023 ended Dec 31, 2023, a significant increase over its earnings of $767,000 in FY2022 when the company first reversed into the black after the Covid-19 pandemic.This comes on the back of a 21% y-o-y increase in revenue to $327.9 mil

  • Business
    EdgeProp

    Tuan Sing Holdings reports a 5% increase in FY2023 earnings to $4.8 mil

    Artist's impression of the 90-unit Peak Residence which is fully completed and expect to TOP in 2024 (Picture: Tuan Sing)Singapore-listed real estate company Tuan Sing Holdings reported earnings of $4.8 million in FY2023 (ended Dec 31, 2023), a 5% increase y-o-y from $4.6 million the previous year on Feb 23. Revenue rose 35% to $303.7 million in FY2023 from $225.3 million in FY2022. This was largely due to higher revenue from all three segments of the group's business: real estate development, i

  • Business
    EdgeProp

    Four-bedder at Boonview turns in $2.57 mil profit

    A 2,368 sq ft, three-bedroom penthouse on the 20th floor of Boonview was sold for $3.83 million ($1,617 psf), according to a caveat lodged on Feb 7. The unit was purchased from the developer for $1.26 million ($532 psf) in July 2004. As a result, the resale raked in a profit of $2.57 million (204%), which translates to an annualised profit of 5.8% over almost 20 years. The sale is the most profitable condo resale transaction for the week of Feb 6 to 13.The transaction also sets two new records a