For the financial year ended 31 December 2023, SingLand posted a net profit attributable to equity holders (net attributable profit) of $270.8 million. Excluding net fair value gain on investment properties, the Group recorded a net attributable profit of $188.6 million.
The Group recorded a 12% increase in revenue to $684.6 million, mainly boosted by higher revenue from hotel operations, which rose by 45% to $283.4 million as visitor arrivals continue to trend upwards towards pre-pandemic level. Revenue from property investment fell slightly to $247.1 million, mainly due to the closure of Clifford Centre for redevelopment in January 2023, while revenue from property trading fell to $39.0 million as our V on Shenton and Mon Jervois residential projects have been substantially sold in 2022.
The Board has recommended a first and final tax exempt (one tier) dividend of 4.0 cents per share, an increase from 3.5 cents per share in 2022.
Read the full report here.