OUE swings into the red in Q2

Singapore

OUE Limited swung into the red in the second quarter ended June 30 with a net loss of S$16.28 million versus a net profit of S$4.43 million a year ago, owing to S$20.55 million of other losses mainly arising from fair-value losses on its investment in a mutual fund.

"Excluding the other losses, the group's business and operations continue to have a positive contribution with attributable profits of S$4.3 million for 2Q 2015 (Q2 2014: S$4.8 million)," said OUE.