Rowsley reports quarterly net loss

SINGAPORE (April 26): Real estate and investment company Rowsley yesterday reported a net loss of S$1.6 million (RM5 million) for its first quarter ended March 31, 2017, compared to a net profit of S$4.8 million a year ago, said The Business Times.

This was due in part to exchange losses from translation of the group’s UK and Malaysian subsidiaries, as a result of the weakening of the sterling pound and ringgit against the Singapore dollar.

A report by The Business Times said its revenue rose 10% to S$22.6 million due to contribution from Squire Mech.

This article first appeared in The Edge Financial Daily, on April 27, 2017.

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