Segmental Reporting
PROPERTY TRADING
Sales from Property Trading were $123 million or
41% of total Group revenue. This was $8 million
higher than the previous year’s sales. Pre-tax profit
of $56 million included the further progressive
profit recognition from Caribbean at Keppel Bay,
a write-back of provisions totalling $22 million
for Amaranda Gardens, Butterworth 8 and
The Edgewater, and final cost adjustments for
Villa Verde, The Mayfair and Palm Gardens. Initial
profit contribution for One Park Avenue, Shanghai
was also included.
In the previous year, the contributions were from
the sale of Freesia Woods and Cluny Hill bungalow
land plots.
HOSPITALITY AND SERVICES
This is the hotel operations and the fee-based
segment of the Group’s business. Activities include
marketing, project management, property and
hotel/ serviced apartment management services
and their related technical consultancy services.
Hospitality and Services incurred a pre-tax loss of
$7 million from sales of $44 million (or 14.8% of
total Group revenue in 2002). In 2001, sales and
pre-tax loss for this segment were $48.8 million
and $7.3 million respectively.
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