Hersing Corporation Ltd., an investment holding company, provides real estate brokerage, valuation, consultancy, property management, money remittance and lending, and self-storage services. It also offers real estate training to real estate agents; sells marketing materials; and operates as master franchisee of the Coldwell Banker Real Estate and ERA Real Estate franchise for the territory of Singapore to offer memberships Coldwell Banker and ERA Real Estate franchises to housing agents in Singapore. In addition, the company is involved in the provision of property management services; conducting training courses; publication and distribution of real estate periodicals; provision of self-st...
743 Toa Payoh Lorong 5
Founded in 1997
Hersing Reportedly Seeks To Sell ERA For Up To SGD 200 Million
Jun 18 13
Hersing Corp. Ltd. is looking to sell Electronic Realty Associates Pte. Ltd. (ERA) for up to SGD 200 million, according to a Dow Jones report citing sources with knowledge of the sales process. Hersing has lined up about five potential buyers, including private equity firms, the sources said, without naming the interested parties. Hersing aims to close the first round of bidding by the end of June 2013 and complete a deal in two to three months, the report added. Spokespersons for both Hersing and ERA declined to comment.
Hersing Corp. Ltd. Reports Unaudited Earnings Results for the Second Quarter and Half Year Ended June 30, 2012
Aug 6 12
Hersing Corp. Ltd. reported unaudited earnings results for the second quarter and half year ended June 30, 2012. For the quarter, the company reported profit attributable to company of SGD 5,203,000 or 0.83 cents earnings per share on fully diluted basis on turnover of SGD 82,613,000 compared to profit attributable to company of SGD 3,557,000 or 0.57 cents earnings per share on fully diluted basis on turnover of SGD 69,000,000 for the corresponding period of last year. The improvement in turnover came largely from the real estate segment, particularly in the marketing of new property developments by the Group. Profit before taxation was SGD 7,166,000 against SGD 4,422,000 of prior year period. Net cash flows generated from operating activities were SGD 501,000 against SGD 2,057,000 for the same period last year. Payment for construction costs of an investment property was SGD 1,068,000 against SGD 2,908,000 of prior year period.
For the half year, the company reported profit attributable to company of SGD 7,153,000 or 1.14 cents earnings per share on fully diluted basis on turnover of SGD 143,229,000 compared to profit attributable to company of SGD 7,519,000 or 1.20 cents earnings per share on fully diluted basis on turnover of SGD 130,305,000 for the corresponding period of last year. Profit before taxation was SGD 10,328,000 against SGD 9,686,000 of prior year period. The better performance was a result of higher contributions from the real estate and financial services segment. Net cash flows used in operating activities were SGD 757,000 against SGD 166,000 for the same period last year. Purchase of plant and equipment was SGD 1,897,000. Payment for construction costs of an investment property was SGD 1,468,000 against SGD 5,821,000 of prior year period.