SingHaiyi sinks into the red with Q2 net loss of S$4.6m

Singapore

PROPERTY developer SingHaiyi Group has swung to a net loss of S$4.6 million for its second quarter ended Sept 30, from a profit of S$7.7 million a year earlier.

This was mainly due to a slide in revenue from the decrease in recognised contributions for several projects. Finance costs for the quarter was also over seven times that of the year-ago period.