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Sing Investments reports 5.3% rise in Q2 profit to $2.7 million

Published on Jul 29, 2014 9:17 PM

SINGAPORE - Sing Investments & Finance reported a 5.3 per cent cent rise in second quarter net profit to $2.7 million, mainly due to an increase in the loan base leading to higher interest income and hiring charges.

Net interest income and hiring charges increased 6.2 per cent to $7.8 million for the three months to June 30.

Interest income and hiring charges grew 7.7 per cent, from a higher loan base, while interest expense rose 10.1 per cent.

These were partly offset by impairment loss allowances of $900,000.

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