Corporate digest

Tuan Sing Holdings

TUAN Sing Holdings' net profit slumped 73 per cent to S$31.4 million for the fourth quarter ended Dec 31, 2019. The group recorded a fair value adjustment of S$34.1 million, a plunge from S$113.2 million a year ago, mainly due to a decrease in fair value gain from the revaluation of investment properties. The higher revaluation of investment properties in 2018 was due mainly to the fair value gain from 18 Robinson, which was deemed completed in 2018.

Revenue rose 11 per cent to S$92.3 million due to higher revenue from the property segment, partially offset by lower revenue from hotels investment and industrial services segments. Earnings per share was 2.6 Singapore cents, lower than a restated 9.8…