UOL posts 59% jump in Q2 profit
It sees disconnect in land, unit sale prices
Singapore
UOL Group put up a sterling report card on Friday for the second-quarter ended June 30, with net profit jumping 59 per cent to S$109.4 million, mainly due to higher revenue recognition from Singapore condominium project Principal Garden, higher share of profit from associated companies and fair value gains on investment properties.
But amid the residential market exuberance here, the group flagged its concern over a possible "disconnect" between the recent land tender prices and achievable end-sale prices. "Transaction volume in the residential sector has risen steadily b…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Singapore shares open higher on Friday; STI up 0.2%
TSMC estimates losses of US$92.4 million due to Taiwan earthquake
Singapore loses ‘world’s best airport’ crown to Qatar
Higher gross rental income, lower expenses boost CICT’s Q1 NPI by 6.3% to S$293.7 million
Stocks to watch: CICT, Seatrium, Keppel DC Reit, UOB