JTC net surplus up 7% to S$1.4b
SINGAPORE industrial landlord JTC Corporation reported a group net surplus of S$1.4 billion for its 2014 financial year ended March 31, 2015, up 7 per cent from a year ago.
Operating revenue was up 7 per cent to S$1.85 billion, primarily due to higher land and building rental income, which forms the bulk of revenues.
Non-operating income was up 32 per cent to S$604 million, largely due to gains from industrial government land sales.
Capital expenditure rose 31 per cent to S$2.3 billion, due to the purchase of industrial land and the development of projects such as Fusionopolis Two and Galaxis @ one-north, JTC BioMed Hub @ Tuas Biomedical Park and JTC CleanTech Two @ CleanTech Park.
As of end-March, the group has S$12.1 billion worth of investment properties, down 15 per cent from a year ago.
Total borrowings fell 80 per cent to S$494 million.
Total equity rose 9 per cent to S$18.3 billion.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore Q1 industrial rents rise further 1.7%, as occupancy dips and prices fall: JTC
Condo resale volumes rebound in March; prices inch up 0.4%: SRX, 99.co
S$16.5 million deal at The Ritz-Carlton Residences tops Q1 gainers; seller reaps S$4.9 million profit
Lucrum Capital looks to sell Killiney hotel site for S$195 million
US 30-year mortgage rate rises to five-month high of 7.24%
Money laundering accused Su Baolin’s Sentosa property goes unsold at auction