Bukit Sembawang

Bukit Sembawang: 3QFY14 net profit fell 20.8% to $18.5m in tandem with a 14.0% drop in revenue to $69.3m, taking 9MFY14 net profit to $93.0m (+4.6%). The fall in revenue was largely due to lower profit recognition on development projects. Going forward, the group expects the residential market conditions to be challenging and this will adversely affect its sales performance in the year ahead. As at Dec’13, Bukit Sembawang’s NAV stands at $4.69.