IN LIGHT of weak market sentiments, property and beverage group Frasers and Neave have decided to shelve the launch of two private projects - Lakeside Drive and Sirat Road.
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The homes were originally planned for a December launch, but now will be delayed, said the company at its full-year results briefing on Friday. Profit from local properties grew 19 per cent largely from earlier sales this year for projects such as One Jervois, One St. Michael's and Soleil@Sinaran.
During the year, the group sold 313 units of the 986 launched units.
As a group, F&N posted net profit of $436 million, up 15 per cent from last year. Profit after tax hit a record for $568 million.
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