Sing Holdings' Q2 profit surges

Singapore

PROPERTY development and investment group Sing Holdings on Tuesday reported a 590.5 per cent leap in net profit for the second quarter ended June 30, 2015. Net profit soared to S$2.244 million from S$325,000 a year ago, on the back of higher revenue recognition from the group's development project.

Revenue for the second quarter increased by 482.5 per cent to S$25.3 million from S$4.35 million a year ago, due to progressive recognition of proceeds from the sale of units in Robin Residences.