17 May 13 | The Business Times by Kalpana Rashiwala
THE 49 room Berjaya Hotel in Duxton Road has been sold for $50 million, pricing the asset at slightly over $1.02 million per room. The asset comprises eight adjoining conservation shophouses, all three storeys high with a loft, sitting on land with a balance lease tenure of about 74 years. The buyer is believed to be Satinder Garcha s Elevation Group. The shophouses are being sold on vacant...
16 May 13 | The Business Times by benjamin aw
THE Restaurant Association of Singapore (RAS) has urged food services companies to work with food manufacturers and suppliers to outsource food preparation and production, and cut down on manpower costs."The cost of manpower will definitely keep escalating, so you have to look into outsourcing," said Andrew Tjioe, president of the 300 member RAS.Adding that many services of food manufacturers and...
16 May 13 | The Business Times by Felda Chay
BANYAN Tree Holdings reported a 19 per cent rise in first quarter net profit to $14.2 million from $12 million last year, boosted by the sale of the Angsana Velavaru hotel in the Maldives, and higher revenue from its hotel investments unit and the fee based business. Earnings per share, in turn, rose to 1.87 cents from 1.58 cents a year ago. Revenue for the three months ended March 31, 2013, rose...