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Wing Tai Q4 earnings up despite impairment
Profit of S$9.49m, up from S$1.88m a year ago, on the back of higher contribution from HK associated firm and on S$5.3m tax credit
Published Thu, Aug 24, 2017 · 09:50 PM
Singapore
DESPITE making a provision for impairment in the value of its joint-venture condo development The Crest near Jervois Road, Wing Tai Holdings managed to post an increase in net earnings for the fourth quarter ended June 30.
The property and retail group controlled by the Cheng family posted a net profit of S$9.49 million for Q4 FY2017, up from a profit of S$1.88 million for the same year-ago period.
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