Chasen expects loss in FY24 amidst development of logistics centre

Its corporate office is being redeveloped as a distribution centre.

Chasen Holdings Limited flagged a possible net loss for its financial year ending 31 March 2024 as it redeveloped a property into a logistics centre.

The projected deficit, including a non-recurring loss, was associated with the demolition of the 18 Jalan Besut property which the company used as a corporate office. This was to make way for the development of Chasen's new Integrated Logistics Hub on the amalgamated sites at 16 and 18 Jalan Besut, it said in a bourse filing.

“The company is still in the midst of finalising its financial results for FY2024. Further details on the Group financial performance will be made available in the coming Results announcement,” Chasen said.

ALSO READ: SingPost and Lithuania Post enhance collaboration in postal and delivery services

Earlier, Chasen said it was selling its interest in logistics firm City Zone Group of Companies to Switzerland-based Kuehne + Nagel for $67.4m, with net proceeds of $57.2m

The purchase is still being completed.

Follow the link for more news on

Logistics

Also Read

SingPost brings service closer to commuters

Industrial landlords offer flexibility amidst softer demand

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit