Wing Tai Holdings Limited (SGX:W05)
Wing Tai Holdings Limited is a Singapore-based property developer and lifestyle company. The Company operates in three segments: Development properties, Investment properties, and retail. Other operations of the Company include garment manufacturing and investment holding neither of which constitutes a separate reportable segment. Property development segment includes Properties under development and Properties held for sale. Investment property segment includes commercial developments and serviced apartments. Its retail segment continues to hold its position in Singapore and Malaysian markets. Through a network of companies under the Wing Tai Asia brand, Wing Tai Holdings Limited (Singapore), Wing Tai (China) Investment Pte Ltd, Wing Tai Malaysia Berhad (Malaysia), Wing Tai Properties Limited (Hong Kong) and their subsidiaries, Wing Tai has core businesses in property investment and development, lifestyle retail and hospitality management in Asian markets.
Official website: www.wingtaiasia.com.sg
Wing Tai Holdings reported a 26.1 percent decline in 9M15 revenue to $460.8 million and a 54.8 percent fall in operating profit largely due to lower contribution from development properties. Share of profits from associated and joint venture companies decreased 29.8 percent due to the lower share of operating profit from Wing Tai Properties in Hong Kong. Consequently, net profit was lower by 69.1 percent at $34.4 million from $111.3 million in 9M14.
Source: Shares Investment