Hatten Land 1Q 2018 Net Profit Up 63.2%

Hatten Land 1Q 2018 Net Profit Up 63.2%

Hatten Land Ltd., an award-winning Melaka-based developer, said that its net profit for the three months ended 30th September 2017 (“1Q 2018”) rose 63.2% to RM3.0 million from RM1.8 million in 1Q 2017, and announced healthy sales for its new wellness-themed development.

Revenue for the Singapore Exchange Catalist-listed developer with significant projects in Melaka rose 5.0% to RM56.5 million from RM53.8 million over the comparative periods on progress of construction for Harbour City – a six-acre integrated commercial development built on seafront land on Pulau Melaka that is slated to be completed by 2020. 104 out of 154 units of the first phase of Satori sold, lifting unrecognised revenue to RM760mil.

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Singapore to Reduce Number of Cars

It was reported that Singapore will freeze the number of private cars on its roads from 2018 but vowed to expand its public transport. The growth cap for all passenger cars and motorcycles will be cut from 0.25 % a year to zero with effect from February 2018, the Land Transport Authority (LTA) said.

There were more than 600,000 private cars in Singapore at the end of 2016. No timetable was given for the freeze but the number of buses and goods vehicles will be allowed to continue growing.

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Housing prices too high

The Government should work with developers to find a win-win solution to encourage the building of more affordable houses for all, irrespective of race and religion, said Johor Ruler Sultan Ibrahim Ibni Almarhum Sultan Iskandar.

“The current house prices are way too high for most people. People cannot afford to buy them, they can only afford to look at them,” His Majesty added.

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