WCG to net A$147m in Australia sales proceeds

Singapore

SINGAPORE-headquartered property group World Class Global (WCG) expects to recognise A$147.3 million (S$150.1 million) in sales proceeds from the first-phase handover of its Australia 108 skyscraper residence in Melbourne, subject to the settlement by purchasers of 277 completed residential units in the development.

These are expected to contribute positively to its financial performance in the second and third quarters of its financial year for 2018 ending Dec 31, barring unforeseen volatility in the Australian dollar/Singapore dollar exchange rate, it said in a Singapore Exchange announcement.