UOL Q3 profit up 600% on UIC deal
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
UOL Group posted a 609 per cent jump in net profit to S$618.1 million for the third quarter ended Sept 30, 2017, on the back of a S$542.1 million gain on acquisition and consolidation arising from accounting for United Industrial Corporation (UIC) as a subsidiary.
This follows UOL's acquisition of 60 million UIC shares from Haw Par Corporation, which was completed on Aug 31 this year. Following the purchase, UOL's stake in UIC has risen to 48.96 per cent from 44.71 per cent previously.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
