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
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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 real estate fund manager's recurrent management fees to S$34.3 million.
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