ARA Asset Management's Q4 net profit falls 28% to S$18.5m; buyout gets regulatory approval

Singapore

ARA Asset Management, which is in the process of being privatised, said on Thursday that Q4 2016 net profit fell 28 per cent to S$18.5 million on lower acquisition fees and a jump in costs.

The group did not declare a dividend unlike the previous corresponding period's 2.7 cents a share. It had informed shareholders on Nov 8, 2016 - the day it announced a buyout of the company by a consortium - that no dividend will be declared or proposed for the period under review.