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Yongnam’s 2Q earnings plunge 92% on higher expenses

Jude Chan
Jude Chan8/11/2016 06:26 PM GMT+08  • 2 min read
Yongnam’s 2Q earnings plunge 92% on higher expenses
SINGAPORE (Aug 11): Yongnam Holdings has posted earnings of $156,000 in 2Q16, 91.8% lower than $1.90 million in 2Q15 last year.
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SINGAPORE (Aug 11): Yongnam Holdings has posted earnings of $156,000 in 2Q16, 91.8% lower than $1.90 million in 2Q15 last year.

This was mainly due to a 56% increase in general and administrative expenses to $5.1 million in 2Q16 due to higher professional fees, tendering costs, and other general and administrative expenses.

Finance costs also increased to $1.4 million in 2Q16, 18.6% higher than the $1.2 million a year ago, on higher bank charges and interests.

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