SINGAPORE (Aug 11): Property group Bukit Sembawang Estates posted a 9.4% earnings decline to $27.5 million for 1Q17, compared with earnings of $30.4 million for 1Q16.
For the quarter to June, revenue fell 62% to $44.9 million from a year ago. This came on the back of lower revenue recognition from development projects, based on the percentage of completion.
During the quarter, the group had recognised profits from Luxus Hills Phase 6, Luxus Hills Phase 7 and Skyline Residences.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
