Tuan Sing Q4 net falls 68% to $25.3m

TUAN Sing Holdings posted a 68 per cent year-on-year decline in fourth-quarter net profit on slower property sales and fair-value adjustments, the developer and industrial equipment supplier said yesterday.

Net profit for the period ended Dec 31, 2013 fell to $25.3 million, or 2.2 cents per share, but this included a $26.7 million fair-value adjustment that was 60 per cent less than the $67.5 million year-ago adjustment.

Excluding fair-value adjustments, the earnings per share would be 0.1 cent.