PROPERTY developer Tuan Sing Holdings on Friday posted a 98 per cent slump in earnings to S$157,000 for its first quarter ended March 31 from S$8.2 million a year ago.
Revenue rose 1 per cent to S$77.5 million for the quarter, due mainly to higher revenue from its property segment, partially offset by lower revenue from its hotels investment and industrial services segments. The drop in earnings was partly due to lower operating income on the back of the absence of a S$3.9 million gain from the divestment of a China subsidiary in 2018.
This was aggravated by lower share of results of equity accounted investments due to lower contribution from the group's associate which recorded lower revenue and higher foreign exchange losses arising from the weakening of the US dollar against the renminbi, as well as higher finance costs due mainly to interest expenses for 18 Robinson and higher interest rates on borrowings for other investment properties over the course of the year.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
With right fundamentals in place, Belt and Road Initiative can spur global growth: Chan Chun SingBEIJING - Global trade is undergoing rapid transformation caused by technological disruption and shifting supply chains, but China's Belt and Road Initiative (BRI) can spur trade and investment provided the right fundamentals are in place, Minister for Trade and Industry Chan Chun Sing said in Beijing.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
New stores, higher sales boost Sheng Siong's Q1 earningsSHENG Siong Group on Friday posted a 5.9 per cent rise in net profit to S$19.4 million for its first quarter ended March 31, as revenue increased 10.1 per cent to S$251.4 million. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
LMIRT Q1 DPU falls 18% as rental income drops on lease expiryLIPPO Malls Indonesia Retail Trust (LMIRT) has slashed its first-quarter payout to unitholders by 17.9 per cent, as rental income slid year-on-year. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
HDB resale transactions down 14.2% in Q1 as prices edge lowerSINGAPORE: Singapore’s resale public housing market remained in the doldrums in the first quarter of this year, with prices slipping further and ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tokyo: Stocks open higher with eyes on earnings[TOKYO] Tokyo stocks opened higher on Wednesday supported by record levels in New York but investors remained cautious amid corporate earnings season and ahead of an unprecedented 10 days of holidays next week. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Weak industrial earnings drag Wall Street lowerDow and S&P futures were pressured by a steep fall in industrial company 3M's shares on Thursday, while upbeat results from high-flying companies ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
GL Limited posts Q3 net loss on flat revenue, higher costsFLAT revenue and higher expenses led hospitality group GL Limited, formerly known as GuocoLeisure, to post net losses of US$3.3 million for its third quarter ended March 31, a reversal from a net profit of US$24 million a year ago. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Sasseur Reit acquires shop units at Hefei Outlets for 98.3m yuanSASSEUR Reit has signed sale & purchase agreements to acquire additional shop units with existing tenancies at the annex block of Sasseur (Hefei) Outlets from third-party vendors for 98.3 million yuan (S$19.8 million). Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »