UIC

UIC: FY13 net profit declined 19% to $316.1m on a 14% decline in revenue to $609.6m. The decrease in revenue was attributable mainly to lower sales of trading properties (-56%), partially offset by higher revenue from the hotel operations (+53%) following the re-opening of Pan Pacific Singapore Hotel. Fair value gain on investment properties was down 21% to $196.0m versus $247.3m in the prior period.