Lendlease explains SGX query on $259,000 interest income

The group’s cash and bank balances reached $49.2m as of June.

Lendlease announced that its $49.2m, which includes cash and bank balances denominated in Euro, were non-interest bearing in nature.

This was its reply to Singapore Exchange, which asked why the group generated interest income of $259,000 for a full year that ended on 30 June this year.

The group said the bank balances were “subject to varying levels from time to time and may generate little or no interest income.”

To manage the capital, Lendlease’s manager mulled to place fixed deposits or repay outstanding loans

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Lendlease Corporation Limited

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