Sing Investments & Finance reports 1.2% increase in net profit

SINGAPORE - More loan assets, deposits and savings accounts by customers helped lift full-year earnings for finance company Sing Investments & Finance.

Net profit rose 1.2 per cent to S$12.8 million for the 12 months to Dec 31 compared with the same period a year ago, said the firm on Wednesday.

Net interest income and hiring charges came in 8 per cent higher at S$35.2 million, on the back of a 16.5 per cent increase in net loan assets, which grew to S$2 billion.

The firm said: "In tandem with the increase in loan assets, deposits and savings accounts of customers increased by 20.4 per cent to S$2.3 billion as at Dec 31,2015.

Earnings per share rose to 8.13 cents from 8.03 cents previously, while net asset value per share was down one cent to S$1.98.

A first and final dividend of five cents a share was proposed, down one cent from a year ago.

rachaelb@sph.com.sg