UOL Group Net Profit Down Due to Impairment Of Assets
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The latest figure by UOL shows that United Overseas Venture, the developer for many of the real estate developments in Singapore has shown that the profit drops in the latest quarter results. The group revenue has dropped due to revenue impairment for some of the projects that it has tendered including Principal Garden, The Clement Canopy as well as Botanique. The projects were launched previously and the development has achieved completion.
However, not all is gloom as the there was higher revenue that is being recognized from other projects that have increased prices such as The Tre Ver and Amber 45 as well as investments which UOL Group has invested in such …