THE Straits Trading Company on Tuesday posted a net profit of S$17.3 million in the first quarter, up 78.1 per cent from the same period a year earlier as earnings across all its business segments rose.
The group's property portfolio comprises its investments in Straits Real Estate, Suntec Reit and ARA Asset Management. MSC, the group's 54.8 per cent-owned resource arm, continues to face challenging market conditions due to volatility in both the foreign exchange and global commodity markets, but has improved its performance in the first quarter, the group said.
The group said:"2019 is set to be yet another challenging year as geopolitical uncertainties and unease over the state of the global economy continue to cast a shadow on the business environment. However, there remain pockets of opportunities for us to capture.
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