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SINGAPORE : Singapore mainboard-listed property developer SC Global Developments reported a 121 per cent rise in third quarter net earnings, compared to a year ago.
Net profit for the three months ended September amounted to S$9.6 million. Revenue came in at S$25.5 million, down by 15 per cent on-year.
For the first nine months of the year, net profit increased by 96 per cent to S$40.3 million. However, revenue dropped 14 per cent to S$101 million.
Given the current volatile financial markets, the group said it has decided to increase its liquidity by holding a greater amount of cash.
It has recently drawn S$100 million as part of its available reserve facilities to hold as additional cash. - CNA/ls
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