SINGAPORE (Sept 7): Property developer Aspen Holdings swung back into the black in 2Q17 with earnings of RM13.4 million ($4.3 million) compared to a loss of RM751,000 in 2Q16.
This follows a more than threefold increase in the group’s 2Q17 revenue to RM69.99 million from RM20.21 million the same period last year, mainly lifted by advance progress of its on-going projects, Tri Pinnacle and Vervéa.
Tri Pinnacle is the group’s first affordable homes development. It received good response since its launch, with 82.3% of units sold as at June 30. Vervéa, the first phase of the group’s flagship development, Aspen Vision City, recorded 83.5% of units sold as at June 30.