SINGAPORE (Feb 26): Sinarmas Land saw its earnings surge five-fold to $238.2 million for the 4Q ended December, from $46.5 million a year ago.
This bring full-year earnings to $356.0 million for FY17, trebling from earnings of $114.9 million a year ago.
The higher earnings in 4Q17 was largely attributable to sale of land parcels and stronger operating performance from its Indonesia division, further boosted by exceptional gain of $109.4 million from the divestment of Orchard Towers by its International division.
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