SINGAPORE (Oct 31): Property developer Top Global sunk to a loss of $126,000 in 3Q16 from earnings of $984,000 a year ago.
Revenue in 3Q16 fell 16% to $40.5 million from $40.5 million in 3Q15 mainly due to a decrease in revenue recognised from property development.
Revenue from projects in Braddell and Bartley fell $3.9 million as sales volume has not picked up, while both have obtained TOP status and near completion. The Suryamas project saw recognized revenue fell by $3.6 million due to slower handover of houses.
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