Sinarmas Land slips into red in Q4
INDONESIAN developer Sinarmas Land, listed in Singapore, slipped into the red for the fourth quarter after racking up heftier finance costs and substantial foreign exchange losses.
It posted a net loss of S$7.79 million for the three months to Dec 31, compared with net profit of S$99.78 million the previous year, it said in a Singapore Exchange filing on Monday.
This was despite revenue growing 32.8 per cent year-on-year to S$247.22 million.
It made a loss per share of 0.23 Singapore cents for Q4 2015, compared with earnings per share of 3.28 Singapore cents in the year-ago period. Net asset value per share slid to S$0.41 as at Dec 31, 2015, from S$0.56 as at Dec 31, 2014.
It cut its first and final dividend to S$0.0019 per share, from S$0.005 the previous year.
Sinarmas Land shares were flat at S$0.405 on Monday before it released the results.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Frasers Property H1 profit slides 81% on property value losses, lower residential contributions
US bill to restrict WuXi AppTec, Chinese biotechs revised to give more time to cut ties
Barclays cuts jobs in energy transition team it only just built
UMS Holdings Q1 net profit drops 44% to S$9.8 million
SIA Engineering H2 profit rises 11.5% to S$37.8 million on robust aviation MRO demand
Great Eastern shares jump 39% as OCBC mounts S$1.4 billion privatisation bid at S$25.60 per share