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Sinarmas Land’s 1H earnings halved to $51 mil

Jude Chan
Jude Chan8/11/2016 08:36 PM GMT+08  • 2 min read
Sinarmas Land’s 1H earnings halved to $51 mil
SINGAPORE (Aug 11): Sinarmas Land (SML) posted earnings of $51 million in the first half of 2016, down 51.1% from $104.2 million recorded in the same period last year.
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SINGAPORE (Aug 11): Sinarmas Land (SML) posted earnings of $51 million in the first half of 2016, down 51.1% from $104.2 million recorded in the same period last year.

An increased stake in Indonesia-based integrated property developer PT Puradelta Lestari Tbk saw Sinarmas Land’s earnings in 2Q surge 44.4% to $35.3 million.

But the group continued to grapple with lower profit recognised from its Indonesia division, coupled with higher foreign exchange loss and higher finance costs.

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