Property gains bump up Yoma Strategic's Q1 net profit
Published on Jul 25, 2014 9:54 AM
SINGAPORE - Yoma Strategic Holdings, a Singapore-listed group with businesses in Myanmar and China, has posted a tripling of its net profit for the three months ended June 30 mainly due to valuation gains on its investment properties.
Earnings rose to $1.4 million in its first quarter this year, up 243 per cent from $0.4 million a year ago, the group said.
This was on the back of a $6.4 million fair value gain on its Star City's Zone A Building A5 property.
Revenue for the group rose 13.9 per cent in the first quarter to $17.3 million, it said. This was largely attributable to the sales of homes and land development rights in Myanmar.
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