Following the acquisition of an additional 24.27% interest in Marina Centre Holdings (MCH), and MCH’s acquisition of an additional 25% stake in AHPL, UIC owns 57.82% of AHPL, which is now accounted as a subsidiary of the group.
SINGAPORE (July 26): United Industrial Corporation (UIC) saw its earnings more than treble to $409.3 million for the 2Q19 ended June, from $111.1 million a year ago.
This was due to the one-off gain of $272.8 million during the quarter, due to the de-recognition of Aquamarine Hotel (AHPL) as an associated company.
