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SingHaiyi sees 2Q earnings rise 59% to $6.2 mil on sales recognition from The Vales

Michelle Zhu
Michelle Zhu11/7/2017 6:59 PM GMT+08  • 2 min read
SingHaiyi sees 2Q earnings rise 59% to $6.2 mil on sales recognition from The Vales
SINGAPORE (Nov 7): Property group SingHaiyi saw 2Q18 earnings ended Sept rise 58.8% to $6.2 million from $3.9 million a year ago on higher revenue.
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SINGAPORE (Nov 7): Property group SingHaiyi saw 2Q18 earnings ended Sept rise 58.8% to $6.2 million from $3.9 million a year ago on higher revenue.

The group recorded total revenue of $106.7 million for 2Q18 compared to just $13.3 million a year ago, arising mainly from the revenue recognised for the group’s completed executive condominium (EC) project, The Vales.

Rental income, however, fell 16.6% to $2.1 million from $2.5 million previously due to the ongoing asset enhancement initiative (AEI) program underwent by Tri-County Mall (TCM) in the US.

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