Singapore’s Keppel Land Q4 net profit down 55pc

SINGAPORE, Jan 23 – Singapore property developer Keppel Land Ltd reported today a 55 per cent fall in fourth-quarter net profit mainly due to the absence of one-off gains.

Keppel Land reported net profit of S$527.3 million (RM1.31 billion) for the three months ended December, down from a restated S$1.2 billion a year ago.

Earlier this month, the Singapore government imposed a higher stamp duty on foreign buyers, a new levy on sellers of industrial property and a limit on loan sizes to cool the city-state’s real estate market. – Reuters


Please refrain from nicknames or comments of a racist, sexist, personal, vulgar or derogatory nature, or you may risk being blocked from commenting in our website . We encourage commenters to use their real names as their username. As comments are moderated, they may not appear immediately or even on the same day you posted them. We also reserve the right to delete off-topic comments