SingHaiyi's Q3 net profit up 12.8%; revenue more than triples

Singapore

SINGHAIYI Group on Wednesday posted a 12.8 per cent increase in net profit to S$1.4 million for its third quarter ended Dec 31, 2017, as revenue more than tripled to S$41.7 million.

The property developer said the surge in turnover arose mainly from the revenue recognised for its completed executive condominium project, The Vales, as well as sales of completed units from Vietnam Town in the US.