MARKET UPDATES :
- YING Li International Real Estate swung into the black with a net profit of 13.98 million yuan (S$2.84 million) for the second quarter ended June 30, 2014, versus a loss of 17.19 million yuan in Q2 2013.Revenue surged 175.5 per cent year on year to 246.33 million yuan, boosted by revenue recognition from the handover of residential units in the Ying Li International Plaza project.
- NET profit for palm oil producer First Resources dropped 30.8 per cent year on year to US$26.09 million in the second quarter ended June 30, 2014, as operating profit fell due to the lower selling prices of crude palm oil and its refined products.Revenue eased 6.3 per cent downwards to US$112.19 million on the back of lower average selling prices, which was partially offset by higher sales volumes from the refinery and processing segment.
- PALM oil firm Bumitama Agri saw net profit surge 89.6 per cent year on year to 293.34 billion rupiah (S$31.34 million) for the second quarter ended June 30, bolstered by the higher selling price and sales volume of both crude palm oil and palm kernel.Revenue grew 48.7 per cent to 1.46 trillion rupiah due to the same factors.
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