CNA Group Ltd.  announced that it has secured a S$13 million contract from Singapore 's Ascendas Pte, Ltd. which will fully contribute to the Group's FY2011 performance.  The infrastructure works package for Ascendas-Protrade Singapore Tech Park in Binh Duong Province , Southeast Vietnam is the latest boost to CNA's core business growth strategy.

 

 

/sgx

 

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Mainboard-listed CNA Group, the enabler of intelligent buildings and facilities says it posted a net loss attributable to equity holders of $25 million for the twelve months ended 31 December 2010 (FY2010) against a net profit of $11.5 million in FY2009.

The group reported FY2010 revenue fell to $83.3 million from $125.2 million a year ago, dragged down by substantially reduced contributions from the Middle East where major projects were largely completed and CNA continued to be selective in new projects.

CNA says although it did try to fill the revenue gap by improved contributions from the Group’s Singapore, China and Vietnam operations, the average size of newer projects continued to be relatively smaller than a year ago.

Meanwhile, as the group had to reclassify its investment in associate Standard Water Ltd (SWL) which was sold in January to assets held for sale from July 1 onwards, SWL’s share of profit of associates was only $3.7 million in FY2010 versus $9.7 million in FY2009. With the disposal of SWL, the group realised a loss of $21.6 million, which included professional fees and selected management staff remuneration attributable to the disposal exercise of $1.5 million.

CNA Group Ltd., an award-winning enabler of intelligent buildings and facilities, announced that it has secured a S$10.1 million contract from Novena Hospital in Singapore , boosting its local order book to S$34.0 million as at end-November 2010. The project which is slated for completion in 1Q FY2012 is expected to contribute to the Group’s FY2010 and FY2011 performance.

 

 

//icomeireadipost/

 

Retail real estate sluggish: DTZ

SINGAPORE

Average prime rental rates along Orchard Road and Scotts Road remained unchanged in the third quarter, the firm said.

For the third straight quarter, gross rents of prime first-storey space in the area stayed at $39.70 per square foot per month.

Rents in other areas in the city continued to decline. Prime first storey rents in these areas fell by 0.8 per cent to $24.10 per square foot per month.

Monthly gross rents of prime first-storey retail space in the suburban malls, meanwhile, were unchanged at $33.60 per square foot per month.

DTZ said the new supply of retail space last year led to a competitive environment, which did not support any increase in rentals.

Some 1.3 million sq ft of new retail space became available last year.

Other than the newly-completed and pipeline supply that have put a lid on rentals, the two new integrated resorts also had an impact, DTZ said.

The integrated resorts siphoned off some demand for shopping as more people spend time and money at the casinos instead of at the malls, it noted.

But with a robust economic recovery taking place, DTZ said retail rents should increase gradually next year as the new supply is eventually absorbed.— Singapore’s retail real estate continues to be dogged by supply pressure, according to property consultancy DTZ.