February 25, 2014 / 12:36 AM / 3 years ago

SINGAPORE PRESS-Wheelock takes S$110 mln hit on condo project - Straits Times

1 Min Read

Sales of the Panorama began only last month, but the poor take-up has prompted developer Wheelock Properties (Singapore) Ltd to take a huge hit on its condominium project in Ang Mo Kio in its financial statement for last year.

The firm said on Monday that it will make an accounting provision of S$110 million ($87 million) for the 99-year leasehold estate for the year ended Dec. 31, 2013.

NOTE: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 1.2652 Singapore dollar) (Compiled by Singapore Newsroom; Editing by Anand Basu)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below