Fair-value gains boost Yoma's Q3 earnings to S$25.2m; revenue falls 5%
Singapore
LIFTED by fair-value gains, real estate player Yoma Strategic Holdings on Thursday reported a net profit of S$25.16 million for the third quarter ended Dec 31, 2015, up from S$7.80 million a year ago.
The bottom line was boosted by other gains of S$30.42 million, compared with only S$3.93 million a year ago. This was largely due to a fair-value gain of S$27.7 million for the group's telecom tower business, where it was granted a put option to sell its 25 per cent interest to edotco Investments (Labuan) at a minimum valuation of US$40.25 million.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Cordlife directors offer differing views on future oversight if board is rejigged
Tesla lays off more staff in software, service teams, Electrek reports
Robinhood Crypto gets Wells notice from US SEC
Morgan Stanley strategists see inflation as key for path of US stocks
US: Wall Street opens higher as rate-cut hopes linger
Tyson raises outlook as lower costs boost chicken segment