TA Corporation's gains surge 21.8% to S$37.5m

Thanks to robust development.

According to a release, TA Corporation, an established property and construction group, today posted a 21.8% jump in net profit after tax to S$37.5 million for the nine months period ended September 30, 2012 (“9M2012”).

This compares to a net profit after tax of S$30.8 million for the previous corresponding financial period (“9M2011”).

Mr Neo Tiam Boon, the Chief Executive Officer and Executive Director of TA Corporation, said, “We are pleased with the Group’s financial performance, as our nine-month net profit has surpassed the full-year net profit achieved in the last financial year. This commendable performance is testament to the viability of the Group’s growth strategies as well as the dedication and hard work of our employees.”

“The third quarter was a period of exciting developments for TA Corporation. Not only did we mark our strategic foray into high performance motor oil and lubricants distribution through the acquisition of Sino Tac Resources, we also witnessed strong take-up rates for our 77-unit Gambir Ridge development, with 100% of the units sold during its preview.

Separately, we are also pleased to have entered into a strategic joint-venture with three partners for the development of a 99-year leasehold private residential site at Dairy Farm Road,” Mr Neo added.