The higher earnings were also thanks to the short-term recurring rental income contributions from its newly acquired development property, Thye Hong Centre.
SLB Development, the property development subsidiary of construction firm Lian Beng Group has posted earnings of $13.4 million for the FY2021 ended May, 23.5% higher than earnings of $10.8 million for the FY2020.
This is due to the stronger take up in units in the group’s development projects such as Affinity @ Serangoon, Rezi 24 and Riverfront Residences. All three are currently almost fully sold.
