Aspial Q1 net more than doubles to $28m on fair value gain

Singapore

ASPIAL Corporation's net profit for the fiscal first quarter ended March 31, 2014, more than doubled to $27.78 million on fair value gain on investment properties.

The investment holding company engaged in jewellery, property development and financial services said yesterday that it had booked in $25.1 million of fair value gain on investment of eight units of investment properties at East Village. Excluding said gain, the group's pre-tax profit would have been $15.6 million, up from $14.5 million a year ago.