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Hatten Land's 3Q net loss narrows to $4.4 mil on absence of one-off RTO expenses

By PC Lee

/ The Edge Singapore |

May 10, 2018 11:27 AM SGT

SINGAPORE (May 9): Hatten Land saw a net loss of RM13.2 million ($4.4 million) in 3Q18 ended March compared to a net loss of RM72.5 million a year ago in 3Q17 when the group reported a one-off expenses of RM87.8 million relating to the reverse takeover of VGO Corporation.

Revenue for 3Q18 fell 48.1% to RM85.5 million mainly due to lower revenue recognised for Hatten City Phase 2 project and lower sales from Hatten City Phase 1 project in 3Q18. The revenue decline was partially offset by the higher revenue contribution from Harbour City and Satori projects.

Read more at The Edge Singapore.

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