by Romesh Navaratnarajah Keppel Land has boosted its net profit by 76.8 percent to S$236.6 million in 1H2012.
In a statement, the developer attributed the strong growth to contributions from property trading, higher fund management earnings and improved performance from K-Reit Asia.
Property trading soared 182 percent to S$199 million, buoyed by healthy contributions from Marina Bay Suites and Reflections at Keppel Bay in Singapore, while overseas contributions came from The Botanica, Central Park City and The Springdale in China.
Meanwhile, net profit from property investments grew by 38.8 percent year-on-year to S$38.6 million, thanks to higher earnings from K-Reit Asia whose property portfolio now includes an 87.5 percent stake in Ocean Financial Centre (OFC).
Moreover, K-Reit Asia and Alpha Investment Partners (Alpha), the group's fund management vehicles, contributed S$28.5 million or 12 percent of net profit.
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