Straits Trading more than doubles Q4 net to S$29.7m

Singapore

THE Straits Trading Company's net profit for the fourth quarter ended Dec 31, more than doubled to S$29.7 million from S$14.1 million, largely contributed by its real estate segment even as the group continues to "exercise prudence when considering new investments" amid the growing scale of Covid-19.

"The business climate is increasingly challenging as markets continue to deal with greater uncertainties and disruptions," noted Straits Trading in its financial report.

Straits Trading's hospitality arm Far East Hospitality Holdings, for instance, is expected to take a hit from slow travel demand ami…

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