This was mainly due to the gain on disposal of Jurong Island Chemical Hub, gain on sale of its 51.0% stake of Sabana Investment Partners, and disposal of units in Sabana Shari’ah Compliant Industrial Real Estate Investment Trust.
As a result of the one-off gains, other income surged to $59.0 million during the quarter, compared to $1.9 million a year ago.
Revenue from continuing operations fell 10.3% to $37.0 million in 1Q20, from $41.2 million a year ago.
The decline was mainly attributable to the decreased business activity from chemical logistics and financial leasing business.
As at end July, cash and cash equivalents stood at $91.7 million.
Looking forward, the group says it will continue to focus on its core logistical and freight forwarding businesses to ride the waves of economic uncertainty and volatility.
Shares in Vibrant Group closed 0.3 cent higher, or up 2.1%, at 14.6 cents on Friday.
