Treasury Holdings’ Chinese arm reports €10.4m profits

THE Chinese arm of Irish property development company Treasury Holdings has reported a net after-tax profit of nearly €10.4 million for the third quarter of the year, the company’s first set of financial figures since changing its name, management structure and stock market listing.

Treasury China Trust (TCT) — formerly known as China Real Estate Opportunities (CREO) and switched its public listing from London’s Alternative Investment Market (AIM) to the Singapore Stock Exchange, in June — generated a post-tax profit of SGD (Singapore Dollar)$18.67m for the period in question.

The company — of which Dublin-based Treasury controls around 40% — has also announced a maiden dividend yield, for investors, of SGD2.5c per unit, for the quarter, and is committed to paying the same yield for the fourth quarter of the year.