Ying Li slips into the red for Q1

Ying Li International Real Estate swung to the red for the first quarter ended March 2015 with a loss 455,000 yuan (S$97,000) versus a profit of 33.7 million yuan a year ago.

Revenue fell 64 per cent to 100.2 million yuan from 279.7 million yuan mainly due to lower revenue from sale of properties over the period.

The firm said most of the completed units from the Ying Li International Plaza project were handed over in the financial year 2014.

Rental income increased 50 per cent to 51.1 million yuan compared to the same period last year due largely to higher rental contribution as more space was leased out from the investment properties held by the group.

Loss per share stood at 0.002 yuan from 0.016 yuan. No dividend was recommended.