The increase was mainly due to higher revenue recognition from the Capital 21 retail podium component and Capital Suites serviced suites component of the group’s mixed development in Johor, Malaysia, in line with higher percentage of works completed.
SINGAPORE (Feb 6): Property developer Capital World, formerly known as Terratech Group, saw its earnings jump 90.2% to 17.4 million ringgit ($5.9 million) for the 2Q ended December, from 9.2 million ringgit a year ago.
Revenue surged by 156% to 46.0 million ringgit in 2Q17, from 18.0 million ringgit a year ago.
