Perennial's Q1 profit buoyed by fair value gain
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Singapore
BUOYED by fair value gain, Perennial Real Estate Holdings' net profit jumped in the first quarter ended March 31 to S$8.47 million, compared to S$3.42 million a year ago.
This fair value gain was derived from a revaluation of Chengdu East High Speed Railway (HSR) Integrated Development Plot D2, which was reclassified to investment property following the change of use from strata sales to long-term holding for lease.
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