Lack of one-time gain drags down UOL's FY15 profit
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Singapore
A LACK of a one-off divestment gain and lower fair-value gains for its investment properties led UOL Group's net profit to fall 43 per cent to S$391.4 million for the year 2015. The property developer did not provide figures for its fourth quarter.
A year ago, it had enjoyed a one-time property development revenue of S$220.1 million from the sale of land at Jalan Conlay in Kuala Lumpur. Attributable fair-value and other gains (including fair-value gains of associated companies) were also just S$41 million in 2015, against S$288.3 million in 2014.
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