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UIC's Q3 profit hurt by lower revenues from JV projects

Group reports 2% fall in net profit to S$64m, expects office rental rates to continue to soften

Michelle Quah

Published Fri, Oct 28, 2016 · 09:50 PM

Singapore

UNITED Industrial Corporation (UIC) reported a slight dip in earnings for the third quarter as the contribution from its joint venture property projects took a hit during the period.

The property development and investment company reported a 2 per cent drop in net profit attributable to shareholders for the quarter ended Sept 30, 2016.

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