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On Aug 12, CapitaLand reported lower profit after tax and minority interest (Patmi) for both 2Q19 and 1H19 ended June compared to a year ago, after the developer incurred a one-off transaction cost of $36 million for the ASB acquisition in 2Q19.
In addition, Patmi for 1H19 fell 5.3% to $875.4 million from a year ago while Patmi for 2Q19 fell 4.2% to $579.8 million. Meanwhile, operating Patmi for 1H19 and 2Q19 fell 14.9% and 8.4% respectively, due to lower contribution from residential projects in Singapore and China, where fewer units were handed over compared to the same period a year ago.
More real estate news from Singapore
- Keppel Land China in JV to acquire, develop Nanjing mixed-use site
- Private project launches up 23.1% in Q2
- Chart of the Day: Secondary sale transactions plunged 62.35% to 1,840 units
- Senoko Drive industrial site tender not awarded after 2 rejected bids
- Soilbuild Reit launches preferential offering to raise S$101.8m
Real estate news from outside of Singapore
- Hong Kong rents set to fall as protests curb housing demand
- Standard procedures for management bodies of stratified properties (Part 1)
- Bright future prospects for Singaporean investment in Vietnam
- Guo Wengui’s Beijing Office Tower Sold On Taobao For RMB 5.2B
Other news and useful tips
- Singapore says Musk's electric cars are about 'lifestyle', not climate
- Asean banks failing to respond fast enough to existential environmental threats: WWF report
- 3 in 5 Singapore listed firms post poorer results in latest quarter
- 12 Things To Know About Ascendas REIT Before You Invest
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