SINGAPORE (May 23): Property group SingHaiyi reported a 6.1% rise in FY17 earnings to $31.1 million from a year ago on gain from TripleOne Somerset.
For FY17 under review, revenue fell 83.6% to $44.2 million. In the US, the group’s property portfolio generated higher revenue of $34.6 million compared to $18.1 million a year ago.
The higher revenue was generated from the sale of several completed residential units at Vietnam Town but was offset by lower rental income from its Tri-County Mall property in Cincinnati, Ohio, as a result of ongoing Asset Enhancement Initiatives.
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