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Higher management fees boost ARA's Q1

Net profit up 2% at S$19.4m while revenue rises 10% to S$41.4m; total assets under management close to S$29b

Singapore

ARA Asset Management on Tuesday posted a 2 per cent increase in its net profit to S$19.4 million, on the back of a 10 per cent rise in total revenue to S$41.4 million for its first quarter ended March 31, 2016.

This was mostly driven by the 14 per cent increase in the