Q2 fair-value gain lifts Perennial; group upbeat on China healthcare

Singapore

PERENNIAL Real Estate Holdings, which recently led a consortium to consider the en bloc sale of AXA Tower for at least S$1.65 billion, on Tuesday reported a surge in its second-quarter net profit to S$17.1 million from S$0.6 million a year ago.

The rise in earnings was mainly due to a fair-value gain of S$16.6 million from the revaluation of Xi'an North High Speed Railway Integrated Development Plot 4, said Perennial.

Perennial is also capitalising on its competitive advant…