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socam development ltd (983) Details

SOCAM Development Limited, an investment holding company, is engaged in the property development and construction, and cement manufacturing activities. The company develops residential, hotel, and retail projects; and knowledge communities, as well as provides property asset management services. It is also involved in the construction, interior fit-out, renovation, and maintenance of public housing, commercial, residential, and institutional buildings; sale of building materials; and provision of related consultancy services. In addition, the company is engaged in the owning and leasing of plant and machinery; structural steel construction work; supply of ready mixed concrete; wholesale of construction materials; and provision of project management, investment, and management consultancy services. Further, it offers software and hardware development, and technical consultancy services, as well as is involved in the venture capital investment activities. The company was formerly known as Shui On Construction and Materials Limited and changed its name to SOCAM Development Limited in September 2011. SOCAM Development Limited is headquartered in Hong Kong, Hong Kong.

8,500 Employees
Last Reported Date: 09/18/14

socam development ltd (983) Top Compensated Officers

Executive Vice Chairman, Managing Director, C...
Total Annual Compensation: $6.7M
Managing Director, Chief Financial Officer, E...
Total Annual Compensation: $6.4M
Compensation as of Fiscal Year 2013.

socam development ltd (983) Key Developments

SOCAM Development Limited Announces Unaudited Consolidated Financial Results for the Six Months Ended June 30, 2014

SOCAM Development Limited announced unaudited consolidated financial results for the six months ended June 30, 2014. For the period, the company reported total turnover of HKD 4,888 million compared to HKD 7,074 million a year ago. Group turnover was HKD 2,765 million compared to HKD 4,784 million a year ago. Loss before taxation was HKD 552 million compared to profit before taxation of HKD 125 million a year ago. Loss for the period attributable to owners of the company was HKD 573 million or 1.18 per basic and diluted share compared to HKD 74 million or 0.15 per basic and diluted share a year ago.

SOCAM Development Limited to Report First Half, 2014 Results on Aug 22, 2014

SOCAM Development Limited announced that they will report first half, 2014 results on Aug 22, 2014

SOCAM Development Limited Provides Earnings Guidance for the Six Months Ended June 30, 2014

SOCAM Development Limited provides earnings guidance for the six months ended June 30, 2014. The group expects to record an increase in net loss for the six months ended June 30, 2014, as compared to the restated net loss of HKD 74 million (as restated for the group's share of loss of Lafarge Shui On Cement Limited of HKD 127 million) for the corresponding period in 2013. The expected increase in net loss for the six months ended 30 June 2014 is mainly attributable to (i) slowdown in the disposal of the Group's property projects and inventories amid the unfavorable property market sentiment in the Chinese Mainland and impending restructuring of the Group; and (ii) exchange loss incurred by the Group's property projects in the Chinese Mainland as a result of the depreciation of Renminbi during the current period under review, as compared to the appreciation for the last interim period.


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