UIC helps UOL lift earnings 3 times to S$891m

Singapore

UOL Group is still on the lookout for more residential sites with strong attributes in Singapore, despite having secured a few sites ahead of the run-up in land prices.

Deputy group CEO Liam Wee Sin, however, expressed concern over aggressive escalation of land prices in its full-year earnings briefing on Tuesday.

He noted that the reserve price of some collective sale sites whose tenders closed without a deal "doesn't work" based on the group's feasibility studies.

"We have made our acquisitions early but that does not mean we don't continue to replenish (landbank). We will continue to comb both the government land sale sites and collective sale sites," Mr Liam told …