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Fair value losses on investment properties hit UIC's second quarter

Net profit slides 33% to S$74.7 million, but revenue rises 53%

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Revenue recognised from the sales of trading properties was higher by 123 per cent, helped by progressive sales recognition for V on Shenton

Singapore

THE second-quarter net profit for United Industrial Corporation (UIC) tumbled 33 per cent to S$74.7 million from the previous year due to higher expenses and fair value losses on investment properties.

The group said in a Singapore Exchange filing on Friday evening that

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