<div class=newsTextDataWrapInner><p>SINGAPORE (May 13): Sim Lian Group's earnings dived 82% to $16.4 million in the third quarter ended March 31, 2016, from $90.2 million a year ago.</p></div>

<div class=newsTextDataWrapInner><p>Revenue plunged 74% to $163.3 million from $634.3 million, mainly due to a lower contribution from property development as projects were completed in February last year.</p></div>

<div class=newsTextDataWrapInner><p>Sim Lian says it recognises revenue and expenses upon completion of contracts.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The poorer top line was partially offset by higher revenue contribution from the construction division, mainly due to increase in percentage of work done during the quarter.</p></div>

<div class=newsTextDataWrapInner><p>Sim Lian says it expects to achieve a set of "profitable operating results" for FY2016, despite the operating environment in the property sector continuing to be challenging.</p></div>

<div class=newsTextDataWrapInner><p>The group reckons it may record greater fluctuations in its future earnings following the adoption of accounting standard INT FRS 115.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Sim Lian ended 0.6% lower at 79 cents on Thursday.</p></div>


SINGAPORE (May 13): Sim Lian Group's earnings dived 82% to $16.4 million in the third quarter ended March 31, 2016, from $90.2 million a year ago.

Revenue plunged 74% to $163.3 million from $634.3 million, mainly due to a lower contribution from property development as projects were com...

Sim Lian's 3Q earnings plunge 82% to $16.4 mil

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<p>The communications minister will formally end the single wholesale 5G network, based on the powers under the Communications and Multimedia Act 1998, according to a new ministerial directive sighted by <i>The Edge</i>.</p>


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<p>The Malaysian ringgit will strengthen further this year, supported by moderate global growth, stable oil prices and strong export demand, according to KSI Strategic Institute for Asia Pacific.</p>


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<p>The High Court here has allowed an ad interim stay on a RM415.5 million fine imposed by the Malaysia Competition Commission (MyCC) on five feedmillers pending filing of affidavits and submissions in relation to its judicial review against the fine.</p>

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<p>World shares struggled for traction on Thursday after a jittery close to 2024, while the dollar weakened as investor sentiment dithered ahead of Donald Trump's return to the White House.</p>


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<p>Malaysia’s renewable energy sector is gearing up for strong growth ahead in 2025, buoyed by key initiatives under the National Energy Transition Roadmap (NETR), said Apex Securities.</p>

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<p>Chinese government hackers breached the US Treasury office that administers economic sanctions, the <i>Washington Post</i> reported on Wednesday, identifying targets of a cyberattack Treasury disclosed earlier this week.</p>


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<p>South Korean police said on Thursday they had raided Jeju Air and the operator of Muan International Airport as part of their investigation into Sunday's crash that killed 179 people in the worst aviation disaster on the country's soil.</p>


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<p>Most Asian stock markets started the year on the back foot on Thursday, as investors braced for US President-elect Donald Trump's return to the White House and the prospect of US interest rates staying higher for longer.</p>
