Sing Holdings posts Q4 loss, looks abroad

SING Holdings plans to look for overseas opportunities amid challenging conditions in Singapore as the property developer fell into a fourth-quarter loss.

The company posted a net loss of $533,000, or 0.13 cents per share, for the three months ended Dec 31, with zero revenue recognised. In the corresponding quarter a year ago, net profit was $13.8 million on revenue of $103.4 million.

For the full year, net profit was 29.9 per cent lower at $28.9 million, or 7.19 cents per share, as revenue slid 21.9 per cent to $226.8 million.