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Tuan Sing's Q3 profit hit by impairment loss
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Kalpana Rashiwala
Published Thu, Oct 29, 2015 · 09:50 PM
Singapore
TUAN Sing Holdings has posted an 8 per cent drop in third-quarter net profit to S$16.2 million due to an impairment loss of S$7.7 million relating to the group's development land in Fuzhou, China.
"Excluding this impact, net profit would have been S$23.9 million or 36 per cent higher than that of last year, attributable to higher contributions from property in Singapore and hotels investment in Australia," Tuan Sing said in a post-market results statement on Thursday.
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