OUE profit down 92% to S$21.7m
To blame is the absence of fair value gains in the first quarter of 2012.
Overseas Union Enterprise Limited said that in the same period in 2011, the company recorded a substantial fair value gain of S$249.2 million on its investment properties.
The Group achieved a net profit of S$21.7 million in 1Q2012, which translates to earnings per share of S$0.02.
Total assets climbed up to S$5.8 billion, amounting to a net asset value per share of S$3.53.