Tuan Sing

Tuan Sing: 2Q13 results largely in-line. Rev at $117.9m, +13% y/y and net profit at $15.3m, +31% y/y. The grp saw higher revenue from the Property segment offset partially by lower revenue from the Industrial Service segment. Higher other operating income was reported as a result of higher gain on disposal of fixed assets, the impact of which was offset by higher foreign exchange translation loss. In addition, the Group’s share of results of GHG and GulTech was down 5% from 1H2012.