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Double-digit falls in most developers' profits as domestic challenges persist

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"Because we have been mired in these trends for over two years now, these were largely anticipated by the equity markets, and after accounting for one-time and extraordinary items, sector earnings were to a broad extent in line with expectations." - OCBC analyst Eli Lee (above)

Singapore

THINNER development profits and incremental impairments dragged down property developers' earnings in their latest fiscal period.

This was especially so for developers who rely on domestic residential development sales for the bulk of their income - no surprise, given the

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