Rowsley swings to net loss of S$4.2m in Q3
Slump in property market and fair value adjustment loss pull down bottomline
Singapore
ROWSLEY Ltd, a mainboard-listed company controlled by Singapore billionaire Peter Lim, posted a net attributable loss of S$4.2 million for the third quarter ended September.
This was due to the softer property market in Singapore and a fair value adjustment loss of S$3.8 million. In Q3 last year, Rowsley recorded other income of S$55.8 million, mainly due to a non-recurring fair value adjustment gain of S$52.1 million. The investment company posted a net profit of S$52.6 million in the third quarter of last year.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Samsung to buy French medical AI firm Sonio
UG Healthcare fully acquires German associate company for 16.9 million euros
UOB CEO ‘cautiously optimistic’ on 2024; Q1 profit down 1.6% to S$1.49 billion
AI boom set to fuel data centre deals in Asia this year
Tesla sends top executive back to China as sales slump worsens
As money pours into private credit funds, will there be enough borrower demand?