for fiscal 2018 ended Dec 31, a 6 per cent increase from S$178.1 million for FY2017. The developer's revenue surged 87 per cent to S$131.1 million, from S$70.0 million for FY2017, on the back of more residential units sold and contributions from Yotel Singapore Orchard Road. Earnings per share was 27.26 Singapore cents, up from 25.69 Singapore cents. Hong Fok shares closed flat at S$0.70 on Thursday.
The amount needed to fully redeem the outstanding shares adds up to 96.45 per cent of the amount SLG expects to raise. As previously mentioned, the group said it plans to fund its business strategy and expansion plans using internal resources and/or external financing.Hongkong Land, a member of the Jardine Matheson Group, saw full-year earnings rise in 2018, boosted by higher property rents and its property development business in China and Singapore.
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