Fair-value gains boost Yoma's Q3 earnings to S$25.2m; revenue falls 5%
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Singapore
LIFTED by fair-value gains, real estate player Yoma Strategic Holdings on Thursday reported a net profit of S$25.16 million for the third quarter ended Dec 31, 2015, up from S$7.80 million a year ago.
The bottom line was boosted by other gains of S$30.42 million, compared with only S$3.93 million a year ago. This was largely due to a fair-value gain of S$27.7 million for the group's telecom tower business, where it was granted a put option to sell its 25 per cent interest to edotco Investments (Labuan) at a minimum valuation of US$40.25 million.
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