In 1Q13, the Group registered revenue of S$96.9 million, an increase of S$13.9 million or 17% compared to the same period last year. This was mainly attributable to Hotel Investments and Fee-based segments, but partially offset by lower revenue from Property Sales segment. EBITDA of S$33.2 million in 1Q13 increased by S$5.2 million or 19% compared to 1Q12, mainly due to higher revenue. In addition, 1Q13 recorded higher other income which relates mainly to gain on sale of Angsana Velavaru hotel and its leasehold rights. In 1Q12, other income relates mainly to net gain on bargain purchase of Banyan Tree Seychelles.