Sing Holdings posts S$16.3 million Q4 earnings

SINGAPORE- Developer Sing Holdings staged a significant turnaround in the fourth quarter thanks to recognition of sales proceeds from two development projects.

Net profit for the three months to Dec 31 was S$16.3 million compared with a net loss of S$281,000 a year earlier, while revenue was S$196 million, up 1,940 per cent from S$9.6 million.

Earnings per share was 4.06 Singapore cents compared with a loss of 0.07 cents per share previously.Net asset value per share as of Dec 31 was 58.74 cents, up from the 54.75 cents as at Dec 31, 2014.

The board has proposed a final dividend of one cent as well as a special dividend of 0.25 cents.