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UIC 2Q earnings surge to $409 mil on one-off gain

Stanislaus Jude Chan
Stanislaus Jude Chan7/26/2019 06:05 PM GMT+08  • 2 min read
UIC 2Q earnings surge to $409 mil on one-off gain
SINGAPORE (July 26): United Industrial Corporation (UIC) saw its earnings more than treble to $409.3 million for the 2Q19 ended June, from $111.1 million a year ago.
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SINGAPORE (July 26): United Industrial Corporation (UIC) saw its earnings more than treble to $409.3 million for the 2Q19 ended June, from $111.1 million a year ago.

This was due to the one-off gain of $272.8 million during the quarter, due to the de-recognition of Aquamarine Hotel (AHPL) as an associated company.

Following the acquisition of an additional 24.27% interest in Marina Centre Holdings (MCH), and MCH’s acquisition of an additional 25% stake in AHPL, UIC owns 57.82% of AHPL, which is now accounted as a subsidiary of the group.

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