CapitaLand's Q4 profit surges on strong operating income

Singapore

PROPERTY developer CapitaLand ended 2016 on a strong note with a 73.8 per cent surge in net profit to S$430.5 million for the fourth quarter ended Dec 31.

The growth was led by more handover of residential units in China and shopping malls in China, higher fair value gains on revaluation of investment properties as well as lower impairments.