Keppel Land Ltd (KepLand) has posted a 14.5% fall in first-quarter net profit as poor domestic demand undercut the effect of strong home sales in China.
The property company, 54% owned by Singapore government-linked conglomerate Keppel Corp Ltd, has aggressively entered the Chinese market to counter the effects of weakness at home. This helped revenue climb 60% to S$142.9mil in the first quarter.
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