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Rowsley swings to net loss of S$4.2m in Q3
Slump in property market and fair value adjustment loss pull down bottomline
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Mindy Tan
Published Wed, Nov 4, 2015 · 09:50 PM
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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.
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