Exceptional gains buoy Sinarmas Land's Q3 profit

Singapore

SINARMAS Land reported a 6.2 per cent rise in net profit attributable to shareholders for the third quarter ended Sept 30 to S$46.7 million as it recorded an exceptional gain from negative goodwill.

The negative goodwill of S$30.6 million during the quarter arose from the acquisition of a subsidiary in Indonesia PT Permata Kirana Lestari. This acquisition was announced on Thursday.

In the announcement, Sinarmas Land said it has acquired 12.37 million shares in PT Permata Kirana Lestari, mainly involved in prop…