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Hwa Hong posts higher Q4 earnings of S$2.1m, proposes dividend

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Hwa Hong posts higher Q4 earnings of S$2.1m, proposes dividend.

PROPERTY company Hwa Hong Corporation on Tuesday saw fourth-quarter earnings rise to S$2.1 million from S$84,000, on the back of higher rental income from its properties and investment dividends.

Revenue for the quarter ended Dec 31, 2019 more than doubled to S$5.9 million versus the preceding year. This came as rental income from its property on 20 Garrett Street, and dividend income received from one of its investment securities, increased.Hwa Hong has proposed a dividend of one cent per share, to be paid on May 15, 2020.

In its outlook, the group noted that the London residential market"stabilised following the election results which gave the Conservative Party a clear mandate to conclude its Brexit strategy".

 

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