SINGAPORE (Feb 28): Straits Trading Company, the diversified investment company with interests in real estate, hospitality and resources, reported a 72.8% fall in 4Q17 earnings to $5.8 million from a year ago, largely contributed by its real estate segment.

4Q17 total revenue fell 11.3% to $106.5 million. Revenue from tin mining and smelting fell 10.5% to $103 million while property revenue fell 31.1% to $3.5 million.

For FY17, earnings fell 28.5% to $48.1 million as revenue fell 7.8% to $472.6 million.

As at Dec 31, the group has cash and cash equivalents of $362.4 million.

The group has declared an interim dividend of 6 cents per share, unchanged from FY16, which is payable on May 4.

Chew Gek Khim, Executive Chairman of Straits Trading, says, “We bolstered our real estate portfolio in FY2017 with the acquisition of several new properties in Japan and Australia. We believe these properties will stand us in good stead as we continue to grow our portfolio of income-generating assets to deliver sustainable returns as well as capital upside for our shareholders.”

Share price in Straits Trading closed at $2.28 on Wednesday.

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Straits Trading reports 73% fall in 4Q17 earnings to $5.8 mil on lower revenue

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