Other operating income increased by $4.11 million to $4.82 million in 1Q18 mainly due to the gain on disposal of The Woodgrove for $4.15 million.
Share of profits from associated companies and JV companies increased 44.7% to $3.46 million in 1Q18 from $2.39 million in 1Q17. This was mainly attributed to increase in progressive profit recognition of fully sold residential projects, High Park Residences and Westwood Residences.
In its outlook, Heeton says it continues to be cautiously optimistic on the outlook for the Singapore residential market.
Shares in Heeton closed 0.5 cent lower at 56 cents on Thursday.
