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Straits Trading swings back to black in 3Q

Gwyneth Yeo
Gwyneth Yeo11/11/2016 08:06 PM GMT+08  • 2 min read
Straits Trading swings back to black in 3Q
SINGAPORE (Nov 11): Straits Trading Company posted earnings of $16.8 million in 3QFY16, compared with net losses of $7 million in 3QFY15.
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SINGAPORE (Nov 11): Straits Trading Company posted earnings of $16.8 million in 3QFY16, compared with net losses of $7 million in 3QFY15.

For the quarter to Sept, revenue declined 18% to $113.4 million, as tin mining and smelting revenue fell 19.8% to $108.1 million on lower production of refined tin due to the lower receipt of feed materials, as well as translation effects from the depreciation of the ringgit against the Singapore dollar.

On the other hand, property revenue rose 58.2% to $5.2 million owing to higher rental income from its Australia and Japan properties.

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