SingHaiyi's Q3 hit by absence of development revenue

Singapore

SINGHAIYI Group posted a 36.7 per cent drop in earnings for its fiscal third quarter in the absence of year-ago development sales, but rental income was stable. The property development group also explained its new plans for a San Francisco project.

The group's net profit for the three months to December 2014 was S$2.5 million, or 0.086 Singapore cent per share. For the first nine months, net profit fell 57.4 per cent to S$5.3 million, or 0.188 Singapore cent.