24 Oct '17, 3am

Wing Tai net profit surges to $8.19m

Launched for sale on 30 May, Serangoon North Avenue 1 was acquired by Wing Tai and Keppel Land for $446.28 million. (Photo: URA) Wing Tai Holdings’ net profit soared to $8.19 million in the first quarter ended 30 September from $1.06 million in the same period a year ago, revealed an SGX filing on Monday (23 October). At the same time, its operating profit increased substantially to $13.97 million from $2.3 million primarily due to the sale of additional units in Le Nouvel Ardmore in Singapore, along with those in Le Nouvel KLCC and Verticas Residences both in Malaysia. Another contributing factor is the disposal of the Huai Hai project in Shanghai. However, the Singapore-listed property developer’s revenue during the quarter marginally declined to $67.13 million from $70.19 million during the corresponding period last year. Nevertheless, its share of profits from associat...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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GuocoLand net profit soared to $165.6mil in Q1

propertyguru.com.sg 20 Oct '17, 4am

GuocoLand saw its first-quarter net profit grow more than six-fold to $165.6 million from $25.6 million over the same peri...