Fair value gains lift Perennial's Q4 net profit
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Singapore
PERENNIAL Real Estate's fourth- quarter profit rose 7.9 per cent to S$27.6 million, driven by fair value gains of S$39.2 million mainly from the revaluation of China projects.
Revenue in the three months to Dec 31 sank 25.7 per cent to S$16 million, owing to the partial divestment of TripleOne Somerset on March 31. Perennial retains a 30 per cent stake in the development and accounts for it as an associate.
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