Lian Beng posts record results, boosted by fair-value gain
Full-year earnings jump 24% to S$108m; revenue up 9.4% to S$747m
Add BT as a preferred source
Mindy Tan
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
LIAN Beng Group posted record net profit and revenue for the full year ended May 31, 2015, boosted by a higher fair-value gain on investment properties and profits from its construction and dormitory segments. The group's net profit jumped 24 per cent to S$108 million and revenue rose 9.4 per cent to S$747 million.
The results were boosted by a 40.6 per cent increase in fair-value gain on investment properties to S$52.4 million and a surge in the group's share of results from associates and joint ventures (JVs) to S$43.6 million mainly from the disposal of the group's 19 per cent owned JV company, 122 Middle Investment Pte Ltd (122MIPL) which owned the hotel development at 122 Middle Road. 122MIPL was disposed at a consideration of S$270 million in September 2014.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
