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Photo by Jakub Żerdzicki on Unsplash
Tuan Sing to post a loss for H1 2024
The loss did not include divestment gains from a proposed divestment.
Tuan Sing Holdings said it will be reporting a loss for the first half of the year, swinging from a profit a year ago due to lower contributions from properties undergoing refurbishments.
In its profit guidance issued Friday, the company traced the loss to lower contributions from Link@896 due to ongoing asset enhancements, as well as the operating costs for Batam Opus Bay’s development.
The loss did not include the $18.5m gain it is expecting from the proposed stake divestment of an asset in Fuzhou City, Fujian, China.
The company will release its final financial performance on 8 Aug.
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