Revenue from Property Development dropped 39% y-o-y to $31.8 million, largely due to lower revenue recognition from Trilive, a project at its final stage of completion, and absence of revenue recognition from Jade Residences, Whitehaven and LIV on Wilkie following the completion of these projects in 2017.
SINGAPORE (May 14): Roxy-Pacific reported 1Q18 earnings increased 19% to $7.0 million, compared to $5.91 million in 1Q17.
Revenue came in at $46.4 million, 29% lower than $65.4 million a year ago, mainly due to lower contribution from the Property Development and Property Investment segments, partially offset by higher revenue from Hotel Ownership segment.
