MAINBOARD-LISTED property and retail player Wing Tai Holdings saw earnings plunge in the third quarter on a sharp drop in associates' contributions.
The decline in earnings tracked a similar drop in Wing Tai's share of profits from associates and joint ventures. The company pointed in its financial statements to the lack of a one-off gain from the sale of a subsidiary, as well as lower contribution from Hong Kong's Wing Tai Properties. Wing Tai's residential projects in Singapore include Le Nouvel Ardmore, The Crest and The Garden Residences, with Winsland Serviced Suites by Lanson Place in its hospitality arm.
Source: News Formal (newsformal.com)
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