IOI Corp said it wrote down the value of a Singapore property development by 242.8 million ringgit ($68.86 million) in the fourth quarter. Average crude palm oil price realised in the quarter fell 27 percent from a year ago to 2,455 ringgit a tonne.
The company, which plans to raise up to 1.22 billion ringgit via a rights offering this year, said the outlook for fiscal 2010 was tied to the global economic recovery.
