Lifestyle developer Top Global's fourth-quarter net profit fell 42 per cent to $1 million largely due to rising costs, even as revenue for the three months to Dec 31 soared 145 per cent to $69.3 million.
Full-year net profit rose 77 per cent to $5 million, while revenue ballooned 290 per cent to $195.7 million, compared with the same period a year earlier on the back of sales from its Braddell and Bartley projects. Those contributed about $99.4 million to turnover while the firm also recognised a full year of real estate development property contributions of about $46.1 million from its Indonesia unit.
Quarterly earnings per share was 0.33 cent, down from 1.15 cents a year ago, while net asset value per share was 86.73 cents as at Dec 31, down from 89.8 cents a year earlier.
Wealth management fees are a fast-expanding source of income for Singapore's three banks, an SGX My Gateway report said yesterday.
DBS Group, OCBC and UOB earned a combined $1.52 billion from wealth management last year, compared with $527 million in 2010.
DBS had the highest fee and commission income from its wealth management services of $599 million.
Its wealth management fees accounted for 24 per cent of last year's total fee and commission income, up from 22 per cent a year earlier.
Wealth management fees made up 31 per cent of OCBC's total fee and commission income last year, the same as in 2014, while UOB's wealth management fees made up 22 per cent of its total fee and commission income, unchanged from a year earlier.
Medical and agricultural investor Trendlines has signed a collaboration agreement with healthcare supplier B. Braun Melsungen.
They will establish a mutual deal flow, identify potential new investments, explore establishing accelerators and incubators and work on developing new technologies and solutions in the medical field.
The collaboration combines Trendlines' expertise in innovation and product development and B.Braun's deep market reach to develop solutions.