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Annex B
Besides Bear Stearns, how do the other leading banks fare in the aftermath?
1. Citigroup Inc
Citigroup Inc posted a US$5.11 billion loss, less than analysts' most pessimistic estimates, and said it will cut 9,000 jobs - sending its shares up as much as 7% in New York trading.
It reported almost US$16 billion of write-downs and increased bad loan reserves as customers fell behind on home, car and credit-card payments. Revenue fell 48% to US$13.2 billion
The bank's write-downs and credit losses from the collapse of the sub-prime mortgage market now total almost US$40 billion, more than Zurich-based UBS AG and Merrill Lynch. Results included US$7.6 billion of write-downs and credit costs on mortgages and bonds, US$1.5 billion on leveraged buyout loans and US$1.5 billion on auction-rate securities. The bank wrote down the value of assets it absorbed last year from so-called structured investment vehicles by US$212 million. The company also marked down the value of bond insurance contracts by US$1.5 billion. Citigroup set aside about US$1.8 billion to increase reserves for bad consumer loans.
2. Credit Suisse Group & rival UBS
The Credit Suisse Group, the Swiss banking giant, had to suffer a US$5.3 billion write-down in soured investments. It also reported a net loss of 2.15 billion Swiss francs, or (S$2.84 billion), in the first quarter, compared with net income of 2.8 billion francs a year earlier.
Credit Suisse has written off about US$10 billion of bad investments since the start of 2007, well below that of its larger Swiss rival, UBS, which has reduced its assets by US$38 billion.
Banks around the world have written down nearly US$300 billion on assets since the credit crisis began last summer with the collapse of the sub-prime mortgage market.
3. Merrill Lynch
Merrill Lynch, the world's largest brokerage, would cut 2,900 jobs after more than US$6 billion fresh write-downs pushed it to a loss for the first quarter.
The write-downs caused Merrill Lynch to lose US$2.14 billion compared to a profit of US$2.11 billion a year earlier. Analysts had predicted a loss of US$1.72 billion. Merrill dropped as much as 3.7% in New York trading and its stock has fallen 53% in the past 12 months.
Annex C
The 25 Most Sellable Projects in District 15
No |
Project |
Unit Sold |
Price Range |
Psf Range |
1 |
AALTO (New) |
32 |
$2.06m |
$6.2m |
$1,389 |
$2,541 |
2 |
Butterworth 8 |
11 |
$370K |
$1.39m |
$282 |
$990 |
3 |
Casuarina Cove |
10 |
$708K |
$1.6m |
$814 |
$984 |
4 |
Costa Rhu |
41 |
$145K |
$5.5m |
$104 |
$1,269 |
5 |
Cote D'azur |
62 |
$750K |
$2.8m |
$705 |
$1,288 |
6 |
Eastern Lagoon |
13 |
$675K |
$1.2m |
$871 |
$1,088 |
7 |
Fernwood Tower |
13 |
$1.05m |
$2.5m |
$879 |
$1,046 |
8 |
Grand Duchess (New) |
23 |
$970K |
$2.8m |
$536 |
$1,200 |
9 |
Katong Park Tower |
20 |
$1.06m |
$1.87m |
$686 |
$920 |
10 |
Lagoon View |
11 |
$1m |
$1.4m |
$607 |
$850 |
11 |
Laguna Park |
12 |
$1.25m |
$1.65m |
$818 |
$1,046 |
12 |
Legenda |
17 |
$580K |
$1.05m |
$439 |
$697 |
13 |
Mandarin Garden |
82 |
$220K |
$2.78m |
$301 |
$999 |
14 |
Neptune Court |
25 |
$920K |
$1.5m |
$562 |
$992 |
15 |
One Amber(New) |
123 |
$460K |
$3.7m |
$658 |
$1,395 |
16 |
Pebble Bay |
42 |
$1.13m |
$8m |
$829 |
$1,372 |
17 |
Sanctuary Green |
35 |
$266K |
$3.1m |
$339 |
$1,207 |
18 |
The Atria At Meyer |
16 |
$1.3m |
$2.39m |
$1,053 |
$1,561 |
19 |
The Belvedere |
53 |
$729K |
$4.9m |
$676 |
$1,873 |
20 |
The Esta(New) |
63 |
$715K |
$2.2m |
$566 |
$1,224 |
21 |
The Makena |
34 |
$1m |
$2.75m |
$938 |
$1,577 |
22 |
The Sea View (just TOP) |
75 |
$445K |
$4.24m |
$682 |
$1,560 |
23 |
The Waterside |
12 |
$2.6m |
$3.8m |
$1,083 |
$1,583 |
24 |
Villa Marina |
45 |
$690K |
$1.32m |
$519 |
$789 |
25 |
Water Place |
55 |
$200K |
$2.15m |
$156 |
$1,410 |
|
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