SINGAPORE (Feb 7): Sing Investments & Finance has declared a first and final cash dividend of 5 cents per share for FY16 as earnings increased 8.2% to $13.9 million, from $12.8 million a year ago.
This was on the back of higher net interest income and hiring charges, which grew 9.7% to $38.6 million, compared to $35.2 million a year ago.
The increase was mainly due to higher loan yields, Sing Investments says in an SGX filing on Tuesday.
Operating expenses increased 4.1% mainly due to higher staff costs incurred to support the increase in business activities.
As at Dec 31, 2016, cash and cash equivalents stood at $405.8 million.
“Notwithstanding the challenging global environment and a slowdown in our local economy, the Group will work towards maintaining its objective, to deliver long-term value to shareholders,” says the group.
“We will focus on sustainable growth through selective lending, people development, technology enhancement and effective cost controls,” it adds.
Sing Investments & Finance closed 1 cent lower at $1.22 on Tuesday.
