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Sunday, 19 November, 2017    LOG IN TO BTINVEST

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ETC Singapore: Unveils 3Q2017 Financial Results Alongside A Series Of Corporate Developments.

15 Nov 2017 11:35 Revenue doubles to S$19.6 million while net gain attributable to shareholders spikes 161.8% yoy to S$1.4 million fueled by steady demand for both Golden City and Daya Bay projects. Pre-sales deposits continue to signal demand for the Group's development properties, with S$72.3 million to be booked progressively through 2017-2018 upon handover of units. Capitalising on the high growth prospects of Myanmar, the Group further hikes its effective stake by up to 20.0% in flagship Golden City project to up to 69.0% with up to US$20.0 million acquisition. Clinches the Group's first greenfield project in portfolio with US$24.4 million acquisition for a 61.0% stake to develop a high-end residential development located at Yangon's CBD district. Both acquisitions would be financed via the issuance of up to 668,466,667 new shares at S$0.09/share, 13.9% premium to last closing price, and/or notes to strategic partners with ability to value add due to their extensive networks in Myanmar...

More information available here.

Source: ShareInvestor Express
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