Tuan Sing Holdings Ltd. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company has reported revenues of $111,958,000 compared to $71,669,000 for the same period a year ago. Profit before tax and fair value adjustments was $15,973,000 compared to $4,965,000 for the same period a year ago. Profit before income taxes was $83,433,000 compared to $29,787,000 for the same period a year ago. Profit attributable to owners of the company was $79,093,000 compared to $25,219,000 for the same period a year ago. Basic and diluted earnings per share continuing and discontinued operations after fair value adjustments was $6.8 compared to $2.2 for the same period a year ago. Net cash from operating activities was $43,877,000 compared to net cash used in operating activities of $243,841,000 for the same period a year ago. Additions to property, plant and equipment was $248,000 compared to $639,000 for the same period a year ago.

For the full year, the company has reported revenues of $371,847,000 compared to $239,720,000 for the same period a year ago. Profit before tax and fair value adjustments was $56,185,000 compared to $24,582,000 for the same period a year ago. Profit before income taxes was $123,843,000 compared to $47,729,000 for the same period a year ago. Profit attributable to owners of the company was $109,532,000 compared to $40,301,000 for the same period a year ago. Basic and diluted earnings per share continuing and discontinued operations after fair value adjustments was $9.5 compared to $3.5 for the same period a year ago. Net cash from operating activities was $146,840,000 compared to net cash used in operating activities of $421,580,000 for the same period a year ago. Additions to property, plant and equipment was $392,000 compared to $1,204,000 for the same period a year ago. The revenue was attributable to higher development property revenue offset partially by lower industrial services revenue. Net cash generated from operating activities mainly from development property sales, favourable working capital movement, as well as the receipt of interest income.

The directors of the company are proposed that a first and final one-tier tax exempt dividend of 0.5 cent per share be paid for the financial year ended December 31, 2012. The proposed first and final dividend, if approved by shareholders at the Annual General Meeting to be held on April 18, 2013, will be paid on June 19, 2013.