Far East Orchard reports 55% lower 1Q earnings of S$3.4 mil

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SINGAPORE (May 7): Developer Far East Orchard reported 1Q19 earnings of S$3.4 million, down 55.4% to S$7.7 million a year ago on lower share of profit of associated companies.

1Q revenue dipped 3.4% to S$38 million from a year ago, due to foreign currency translation losses of S$1.2 million arising from a weakening Aussie dollar.

Lower sales from its hospitality business in Australia and Malaysia due to the weak market conditions was offset by higher sales from the hospitality business in Singapore from both managed and...(click on link for full story on theedgesingapore.com)