Monday, May 25, 2015Monday, May 25, 2015

Tuan Sing Q4 earnings plunges 68%

Published on Jan 29, 2014 10:21 PM

Lower contributions from its property development business and industrial services segment pulled Tuan Sing Holdings' earnings for the fourth quarter down.

Net profit for the three months ended Dec 31 was $25.3 million, tumbling 68 per cent from $79.1 million a year ago.

Turnover was down 42 per cent to $65.3 million in the same period, the firm said on Wednesday evening.

Its property revenue fell mainly because its Mont Timah project had already been fully sold, while 88 per cent of the units its Seletar Park Residence was taken up last year.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!