>

>

Pacific Star Development 12M2017 net profit up 15.3% y-o-y to $20 mil

By Lin Zhiqin

/ EdgeProp |

February 12, 2018 9:26 PM SGT

Join our Telegram channel and follow our Facebook for the latest update.

Listed real estate developer Pacific Star Development (PSD) announced on Feb 12 that its revenue had increased 78.3% y-o-y in 4Q2017 to $30.7 million. The strong performance, mainly attributed to sales from its Puteri Cove Residences and Quayside project, boosted PSD’s 12M2017 revenue by 42% y-o-y to $83.9 million.

Puteri Cove Residences and Quayside is a freehold mixed-use development in Iskandar Puteri, Malaysia, comprising a condominium with 658 luxury apartments in two 32-storey towers, SOHO units, lofts, serviced suites, as well as retail and F&B units.

PSD’s operating expenses in 4Q2017 increased 33% y-o-y to $3.2 million, taking 12M2017 operating expenses to $11.3 million, a 38.8% y-o-y increase.

With higher revenue recognised in 4Q2017, PSD’s net profit after tax increased 23% y-o-y to $8.4 million in 4Q2017, and 15.3% y-o-y to $20 million for 12M2017.

As at Dec 31, 2017, PSD’s total assets grew 40.3% y-o-y to approximately $183.5 million, which was mainly attributed to an increase in development property, trade receivables and unbilled receivables. Total equity also increased 92.5% y-o-y to approximately $58.5 million.

Tags:

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Far East Shopping Centre’s $908 mil en bloc deal aborted

2

World’s largest Mercure Hotel opens on Club Street

3

Grandson of Genting Group founder leads Cover Projects, carves niche in Singapore’s heritage properties

4

The Residences at W Singapore Sentosa Cove relaunches at prices from $1,648 psf, 40% below the peak

5

Residential transactions with contracts dated March 26 to April 2 [DONE DEALS]

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00