Following its acquisition, the parcel will be developed into a residential project

 

[SINGAPORE] A wholly owned subsidiary of real estate group   Wing Tai   : W05 +1.23% has acquired a freehold land parcel in Kuala Lumpur, Malaysia, for RM45 million (S$14.7 million).  

 

The site spans around 11,092 square metres, and is located in the popular Mont Kiara area of Kuala Lumpur. 

 

The group said in a bourse filing on Wednesday (Mar 18) that the acquisition, which was completed on Mar 16, was carried out in the ordinary course of business. The parcel will eventually be developed into a residential project.   

  Wing Tai Holdings   : W05 +1.39% chairman and managing director Cheng Wai Keung raised his deemed interest in the company through shares bought by his spouse, Helen Chow. On Oct 21, Cheng&rsquo s deemed interest in the real estate developer and lifestyle retailer rose by 40,000 shares, from 62.00 to 62.01 per cent.

Revenue for the half year climbs 64.4 per cent on higher contributions from its development properties in Singapore, Malaysia

 

[SINGAPORE] Property developer Wing Tai : W05 -2.1% narrowed its net loss in the second half of its 2025 fiscal year ended Jun 30 to S$71.1 million, down from S$99.2 million a year ago.

 

This comes as revenue jumped 64.4 per cent to S$117.5 million from S$71.5 million in the year-ago period, said the group in a bourse filing on Tuesday (Aug 26).

 

The revenue growth was attributed to higher contributions from development properties, in particular the progressive sales from The LakeGarden Residences in Singapore and Jesselton Hills in Malaysia.

 

Loss per share for the half year came in at S$0.0932, compared with S$0.1338 in the corresponding period a year ago. 

 

A first and final dividend of S$0.03 per share was declared.

 

For the full year, Wing Tai posted a net loss of S$61 million, narrower than the S$78.7 million loss it incurred in the year-ago period. 

 

Revenue came in at S$230.2 million, up 36.1 per cent from S$169.2 million in the previous corresponding period. 

 

Loss per share for the full year stood at S$0.08, compared with S$0.1113 a year before. 

 

The biggest blow to the company&rsquo s bottom line in the previous fiscal year came from the performance of its associated and joint venture companies.

 

However, for the current half year, Wing Tai narrowed the earlier loss of S$90.9 million to S$55.7 million. 

 

For the full year, the group&rsquo s share of results of associated and joint venture companies was a loss of S$22.5 million as compared to a loss of S$58.6 million in the previous year. 

 

In the current fiscal year, its share of loss from Wing Tai Properties was S$142 million, which was largely attributable to the fair value losses on its investment properties and the provision for impairment losses on its development properties in Hong Kong.

 

But this was partially offset by the group&rsquo s share of negative goodwill of S$84.4 million on the acquisition of Amara Group in the current fiscal year, said the financial statement. 

 

On its outlook, Wing Tai said that it launched the 524-unit River Green residential development in August this year, and 88 per cent of its total units have been sold. It added that it will continue to monitor the market and release more such units for sale at appropriate times in the current year.

Neither of the two children were given discounts sale reviewed by the board and audit and risk committee

 

[SINGAPORE] Wing Tai Holdings has granted options to purchase four units in the condo River Green to two children of its managing director and chairman Cheng Wai Keung, for a total of S$7.9 million.

 

The project, located at River Valley, is developed by Wing Tai.

 

Options to buy two units were issued to Cheng&rsquo s son Kelvin Cheng Zen Tak, with the units priced at S$1.963 million and S$1.974 million, the company disclosed in a bourse filing on Wednesday (Aug 20).

 

Another two options were granted to his daughter Carol Cheng Kar Yee, with the units priced at S$1.985 million and S$2 million.

 

Both children are trustees on behalf of beneficiaries and neither were given any discounts, Wing Tai said.

 

The sales have been reviewed by the company&rsquo s audit and risk committee and its board, with Cheng Wai Keung and two family members &ndash Edmund Cheng and Cheng Man Tak &ndash abstaining.

 

The board and audit and risk committee are satisfied that the sales &ldquo are not prejudicial to the interests of the company and its minority shareholders&rdquo , said Wing Tai.

 

The committee has also determined that the number and terms of the sales are fair and reasonable.

The group will record a gain of about HK$31 million from the disposal

 

[SINGAPORE] Wing Tai Properties announced on Monday (Jun 23) that its indirect wholly owned Europe subsidiary had sold British Virgin Islands-incorporated Topworth Enterprises for £ 43 million (S$74.5 million) last Friday after trading hours. 

 

According to a company statement, Topworth Enterprises&rsquo net liabilities had widened to £ 11.6 million for the financial year ended Dec 31, 2024, from £ 10 million in the same year-ago period. 

 

The group will record a gain of about HK$31 million (S$5.1 million) from the disposal, which will be accounted for in the consolidated financial statements of the group for the financial year ending Dec 31. 

 

The buyer is an independent third party, Clas Puma, a company incorporated in England and Wales. 

 

The net proceeds from this move of about HK$449 million is intended to be utilised as general working capital of the group, with the deal in line with the company&rsquo s broader investment strategy at this time. 

Wing Tai Holdings chairman and managing director Cheng Wai Keung continued to raise his deemed interest in the company from 61.84 to 61.85 per cent, through 100,000 shares bought by his spouse, Helen Chow.

 

Wing Tai Holdings chairman and managing director Cheng Wai Keung continued to raise his deemed interest in the company from 61.78 per cent to 61.84 per cent, through 395,000 shares bought by his spouse, Helen Chow.

Wing Tai Holdings chairman and managing director Cheng Wai Keung continued to raise his deemed interest in the company from 61.72 to 61.78 per cent, through shares bought by his spouse, Helen Chow.

Wing Tai Holdings chairman and managing director Cheng Wai Keung continued to raise his deemed interest in the company through shares bought by his spouse, Helen Chow. Between May 9 and 15, Cheng&rsquo s deemed interest in the real estate developer and lifestyle retailer rose by 230,000 shares, from 61.69 to 61.72 per cent.

Wing Tai Holdings : W05 +1.69% chairman and managing director Cheng Wai Keung has raised his deemed interest in the company through shares bought by his spouse, Helen Chow. Between May 2 and May 8, Cheng&rsquo s deemed interest in the real estate developer and lifestyle retailer rose by 240,000 shares, from 61.65 per cent to 61.69 per cent.

 

Mapletree Logistics Trust

On May 8, Mapletree Logistics Trust Management non-executive chairman and director Lee Chong Kwee bought 100,000 units of Mapletree Logistics Trust at S$1.10 per unit. This increased his direct interest in the Reit to 400,000 units. The trust invests in a diversified portfolio of quality logistics real estate in Singapore, Australia, China, Hong Kong, India, Japan, Malaysia, South Korea and Vietnam. Its tenant base includes 934 customers, with about 85 per cent of its revenue coming from tenants serving domestic consumption and around 15 per cent from those engaged in export businesses.