Singapore-listed UOL Group, a major player in the local property market, reported a 43 percent slump in net profit to $391.4 million for the 2015 financial year.
In a statement released on Friday (26 Feb), the group blamed the profit fall on lower fair value gains for its investment properties, as well as the absence of a large one-time profit made from the sale of a land site in Malaysia in 2014.