Construction, property development buoy Sim Lian's Q2 profit

Singapore

STRONG improvements in its revenue from both the property development and construction divisions enabled Sim Lian Group to book a 59 per cent increase in second-quarter net profit to S$40.49 million from S$25.48 million in the same quarter of the preceding year.

Strata sales in the office tower of the group's KL Trillion project along Jalan Tun Razak in the Malaysian capital, Kuala Lumpur, were the biggest contributor to revenue and profit in the property development segment for the group in Q2 FY2016. The 33-storey office tower was completed during the quarter.