SINGAPORE (June 13): RHB likes Emerging Towns & Cities Singapore (ETC), a niche developer currently focusing on development projects in Myanmar and China.
Firstly, the group delivered topline growth of 92% y-o-y to $10.1 million in 1Q17, supported by ongoing revenue recognition of presold units at Golden City.
ETC also generated a gross margin of 27.7% due to the healthy profit margin from Golden City – a luxury mixed-use development in Yangon, Myanmar – and high margins from its rental units.
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