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Sing Holdings sinks into the red, posts 3Q losses of $1.1 mil on disposal of subsidiary

Samantha Chiew
Samantha Chiew11/9/2017 07:47 PM GMT+08  • 2 min read
Sing Holdings sinks into the red, posts 3Q losses of $1.1 mil on disposal of subsidiary
SINGAPORE (Nov 9): Sing Holdings announced losses of $1.10 million in 3Q17 compared to earnings of $1.34 million in 3Q16.
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SINGAPORE (Nov 9): Sing Holdings announced losses of $1.10 million in 3Q17 compared to earnings of $1.34 million in 3Q16.

During the quarter, the group received $50.7 million from the disposal of a subsidiary and $10.7 million from the sale of its completed properties.

Revenue decreased 73.9% to $3.28 million from $12.6 million a year ago, which comprised rental income from lease of an investment property and recognition of sales proceeds from completed properties.

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