Strong property market, Singapore’s reopening fuel higher land betterment charge rates

SINGAPORE – Land betterment charge (LBC) rates have been raised for residential, commercial and industrial use for the next six months from Friday, with the rates for non-landed residential use seeing the biggest increase due to a robust property market as well as healthy bids for state-owned land and collective sale sites. Developers pay a LBC […]

Mitsubishi Heavy Industries Achieves 22% YoY Increase in Order Intake and 52% YoY Increase in Net Profit in a Challenging First Quarter

TOKYO, Aug 5, 2022 – (JCN Newswire via SEAPRWire.com) – Mitsubishi Heavy Industries (TSE Code: 7011) announced that order intake rose 22.3% year-over-year to YEN917.8 billion in the quarter ended June 30, 2022. Revenue rose 2.3% to YEN871.3 billion year-over-year, resulting in business profit(1) of YEN14.9 billion, a 30.4% decrease from the previous fiscal year, […]