In its outlook, Bonvests says its property rental division is expected to remain stable as the rental market in Singapore will remain stable with steady occupancy rate.
SINGAPORE (May 9): Bonvests, the hotel operator and property developer, saw 1Q18 earnings jump 51.2% to $9.5 million from $6.3 million a year ago mainly due to higher contributions from the hotel division.
Revenue rose 6% to $58.9 million mainly due to higher sales from the hotel division. Revenue for the property rental division came in 2.7% lower at $6.028 million while revenue for the hotel division came in 9.7% higher at $35.1 million.
