Increased occupancy at 18 Robinson, together with higher contributions from Singapore development properties, drove the group’s property segment revenue higher to $129.9 million in FY2020 compared to $109.0 million in FY2019.
For the FY2020 ended December, property developer Tuan Sing saw earnings of $52.4 million, 55% higher than earnings of $33.7 million the year before.
FY2020 net profit was up by 78% y-o-y to $59 million, with its property segment resilient throughout Covid-19.
