Sim Lian

Sim Lian: 2QFY14 net profit rose 38% to $66.2m despite a flat revenue of $207.3m, as bottom-line was aided by a 16% drop in costs to $125.2m and a 143% rise in associate contributions to $5.7m. Revenue from Property Development division was down 8% to $156.9m mainly due to reduced revenue contribution from Waterview project, partly offset by increase in revenue contribution from Parc Vera project which is in the peak of the construction cycle. The Group saw its construction division revenue up 33% to $42.1m due mainly to increase in percentage of work done. As at Dec'13 Sim Lian's NAV stands at $0.90.