SINGAPORE (July 28): Sing Investments & Finance saw earnings double to $6.0 million in the second quarter ended June, from $3.1 million a year ago.
This was mainly attributable to a $2.4 million gain from the sale of Singapore Government Securities (SGS) bonds.
In addition, earnings were boosted by a 16.3% increase in net interest income and hiring charges to $10.7 million, from $9.2 million a year ago.
Cash and cash equivalents stood at $233.6 million as at June 30, 2017.
Looking ahead, the group says it will continue to be prudent in its credit lending, and proactive in its management of interest margin as well as operational expenses, to remain competitive amid modest economic growth expected in the second half of 2017.
Shares of Sing Investments & Finance closed half a cent lower at $1.51 on Friday.
