Archive for category: Misc

Education programmes are designed to bring out the best in every student, helping them to become more resilient and contribute positively to society. Beyond the classrooms, the school grounds feature various outdoor sports and recreational activities for students to enjoy. Facilities include a safe and secure playground as well as a basketball court for sports. The Child Care centre at Bukit Batok Primary School further accentuates the importance of providing a conducive learning environment for students. With kindergarten classes and a vibrant school culture, Bukit Batok Primary School strives to nurture the young minds of Singapore. Lumina Grand EC residents can be assured of a quality educational experience for their children at Bukit Batok Primary School.

Wing Tai Holdings W05 0.00% reported earnings of $13.3 million for its FY2023 ended June 30, 91% lower than FY2022 earnings of $140.2 million. The group’s earnings per share for FY2023 sunk to 0.87 cents, down from 16.64 cents per share in FY2022. Loss of $49.9 million for the second half of the financial year, compared to earnings of $86.4 million for its 2HFY2022 was reported.

The share of associated and joint venture companies came in at a loss of $10.4 million for FY2023 compared to a profit of S$112.2 million in the previous year. This was primarily due to lower operating profit and higher fair value losses on investment properties of Wing Tai Properties Limited in Hong Kong. These losses were partially offset by higher contributions from Uniqlo in Singapore and Malaysia.

Excluding the fair value losses on its investment properties, the underlying net profit of Wing Tai came in at $131.3 million in FY2023, 10% lower than in FY2022.

Revenue for the period was largely attributable to progressive sales recognised from The M at Middle Road and the last unit sold in Le Nouvel Ardmore in Singapore. These sales contributed to overall revenue for FY2023 at $476.3 million, 7% lower y-o-y. Cost of sales decreased by 5% y-o-y to $333.8 million, and gross profit was 13% lower y-o-y at $142.5 million.

The group’s cash and cash equivalents stood at $402.1 million as at June 30. In response to these earnings, Wing Tai declared a final dividend of 3 cents per share and a special dividend of 2 cents per share, totalling 5 cents per share and representing a dividend yield of 3.8%.

Wing Tai has noted that the Singapore economy continues to face mounting challenges, with the private residential property price index declining by 0.2% on a q-o-q basis in the second quarter of 2023, as compared to the 3.3% increase in the previous quarter. Despite this, the developer is looking to launch units for sale at “appropriate times”.

On Aug 25, shares in Wing Tai closed 1 cent or 0.75 cents down at $1.32.

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For those looking for the latest New Launches, search to find out the transaction prices and available units. Wing Tai announces its FY2023 earnings of $13.3 million, a significant decline compared to FY2022 but retains positive outlook despite market challenges. The group’s cash and cash equivalents remain healthy at $402.1 million, and has declared a dividend of 3.8%.