The growth in total income was mainly attributable to an eightfold growth in its gain from changes in fair value of investments in portfolio companies to US$5.3 million as compared to US$0.6 million a year ago.
This was largely a result of the completion of fund-raising exercises at favourable terms; general commercial and/or technological progress demonstrated in some portfolio companies; as well as the exit sale of MitrAssist Medical which amounted to gains of US$0.6 million over the quarter; says the group in its filing to the SGX on Thursday.
In line with the higher income, total expenses grew 11.4% to $2.7 million from $2.4 million previously.
Trendlines says it remains committed to its stated plans in the medical and agricultural technologies fields, and believes that the continued need for new and improved products in these fields represents both investment and liquidity opportunities for the company.
Shares in Trendlines closed 1.8% lower at 16 cents on Thursday.
