SINGAPORE: Singapore’s Central Provident Fund scheme is a reliable way to save for retirement. The CPF Special Account provided an interest rate of 4.08% from July 1, 2024 to Sept 30, 2024.
In 2023, STC’s revenue dropped by 6.8% year-on-year to S$491.7 million, primarily due to a 10.1% decline in tin mining and smelting revenue. However, this was partially offset by a 21.4% increase in property revenue. FEHT saw a strong recovery in 2023 as travel demand surged. Revenue rose 27.8% year-on-year to S$106.8 million, and net property income increased by 27.7% to S$98.7 million.
The company faced a tough 2023, with total income dropping by a third year-on-year to US$58 million due to significant declines in charter and fee income.Operating profit also plunged by 68% to US$10.5 million , and net profit fell by 82% to US$5 million . Nevertheless, UMS managed a positive free cash flow of S$2.7 million and increased its interim dividend by 20% from S$0.01 to S$0.012.
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