Keppel Land Q1 profit down 17.2%
KEPPEL Land's net profit for the first quarter ended March 31 fell 17.2 per cent to S$72.6 million from S$87.7 million.
Revenue for the quarter slipped 2.3 per cent to S$278.4 million from S$284.9 million, due mainly to lower revenue achieved by the property trading segment.
The lower revenue from the property trading segment was due largely to absence of revenue from The Lakefront Residences in Singapore as this project obtained temporary occupation permit in May 2014 and lower revenue from Plot 2-2 of The Springdale in Shanghai which was completed in March 2014.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Axiata, Sinar Mas move closer to US$3.5 billion telco merger
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
VinFast chief plans to invest US$1 billion more from his fortune in EV maker
XPeng CEO says its software, AI upgrades to enter ‘super fast cycle’
Asia: Markets mixed as global rally stalls, eyes on yen