Sing Investments & Finance Q1 net profit down 3.6%

SINGAPORE - Sing Investments & Finance reported a 3.6 per cent first quarter dip in net profit to S$2.7 million.

Net interest income and hiring charges rose 13.4 per cent to S$9.1 million for the three months to Mar 31, compared with the same period a year earlier.

Interest income and hiring charges grew 34 per cent, driven by higher loan volume, partly off set by interest expense soaring 63.7 per cent, from a higher deposit base and rates.

Annualised earnings per share fell to 6.35 cents from 6.59 cents previously while net asset value per share inched up to S$2.06 as at Mar 31, compared with S$1.98 as at Dec 31.

rachaelb@sph.com.sg