Singapore-based Sysma Holdings has seen its half year net profit for 1H2013 increase by 17.7 percent to S$3.1 million, compared to S$2.6 million achieved during the same period last year.
Sin Soon Teng (pictured), CEO of Sysma, said: “The half year results were commendable. Through strict cost control, we have been able to increase the gross profit and also the net profit despite a decrease in the revenue.”
While primarily involved in construction services, the last six months has seen the company grow its property development business with the purchase of properties in Race Course Lane.
Sysma is also expected to complete the acquisition of De Paradiso Development which owns two plots of land in Serangoon, by the end of this month.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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