[SINGAPORE] GuocoLand’s share price has rallied strongly in the year to date – up 47 per cent as at Wednesday (Oct 29).
Investors seem unperturbed by the group’s 48 per cent drop in net profit to S$32.4 million for the six months ended Jun 30, from S$62.4 million in the corresponding period a year ago.
Perhaps GuocoLand is conservative in recognising an allowance for foreseeable losses of S$81.8 million for development properties in Chongqing, China, in its latest results.
