K1 Ventures, a diversified investment holding company, reported a 6.7 percent rise in full-year net profit due to a fair value gain.
Group profit attributable to shareholders rose to S$150.0 million compared to $140.6 million in the previous year.
The increase was mostly due to a fair value gain of S$119.0 million recorded with respect to the Guggenheim investment.
Revenue fell 52 percent to S$94.2 million for the year ended 30 June 2017 due mainly to a decrease in investment income from Knowledge Universe Holdings LLC.
Net asset value per share expanded to 76 Singapore cents as at June 30, from 48 Singapore cent in the year-ago period.
K1 Ventures said its expected to take steps to commence voluntary liquidation after the Company distributes all excess cash to its shareholders following the completion of the Guggenheim Disposal.
The company proposed a final dividend of 6.5 cents a share.
Shares in the company rose 2.7 percent to S$0.750 at 0355 GMT on the Singapore Exchange. The stock has fallen about 16 percent so far this year.