SINGAPORE (Nov 8): Property development and investment group Heeton Holdings has posted losses of $11.25 million for 3Q16, down 317.3% from $5.2 million of profits in the same quarter a year ago.
This was mainly due to a loss on disposal of subsidiaries of $12.9 million, which was incurred from the disposal of Heeton Residence and Heeton Realty which owned the residential project, [email protected]
As such, the group’s share of results of associated companies or joint venture companies fell accordingly by 93.2% to $0.3 million, compared to $4.5 million the year before.
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