January 23, 2013 / 9:17 AM / 5 years ago

Singapore's Keppel Land Q4 net profit down 55 pct

SINGAPORE, Jan 23 (Reuters) - Singapore property developer Keppel Land Ltd reported on Wednesday a 55 percent fall in fourth-quarter net profit mainly due to the absence of one-off gains.

Keppel Land reported net profit of S$527.3 million for the three months ended December, down from a restated S$1.2 billion a year ago.

Earlier this month, the Singapore government imposed a higher stamp duty on foreign buyers, a new levy on sellers of industrial property and a limit on loan sizes to cool the city-state’s real estate market. (Reporting by Eveline Danubrata)

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