Staff Reporter
,
Singapore
Due to a one-off gain last year.
UOL's reported net profit dropped 39% year-on-year to $74.2m in the first quarter, on back of a one-off gain from the sale of land at Jalan Conlay in Malaysia in the same period last year.
Excluding this gain, UOL's net profit slipped by 3%. Although core revenue registered growth, the group was impacted by unrealised currency exchange losses recognised in the first quarter from its borrowings in US dollars to fund its investments in China.
Join Singapore Business Review community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!