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Home / Capital / Results

SLB Development reports 23.5% higher earnings of $13.4 mil in FY2021

Results

SLB Development reports 23.5% higher earnings of $13.4 mil in FY2021

Felicia Tan Published on Thu, Jul 29, 2021 / 6:32 PM GMT+8

SLB Development, the property development subsidiary of construction firm Lian Beng Group has posted earnings of $13.4 million for the FY2021 ended May, 23.5% higher than earnings of $10.8 million for the FY2020.

This is due to the stronger take up in units in the group’s development projects such as Affinity @ Serangoon, Rezi 24 and Riverfront Residences. All three are currently almost fully sold.

The higher earnings were also thanks to the short-term recurring rental income contributions from its newly acquired development property, Thye Hong Centre.