Link: https://links.sgx.com/1.0.0/corporate-announcements/JY915CQWFBU8DP8P/05014af0f1956683556f2087fa3435bc3a8d3a5d0004a096c405fe64714e38fa

Summary:

• Revenue for the first half of 2025 was S$36.87 million, nearly unchanged from the previous year; driven mainly by hotel operations, with reduced income from assets disposed in 2024 and offset by new acquisitions.

• Net loss after tax widened to S$9.48 million from S$5.52 million in 1H 2024, due to higher personnel and operating expenses, increased depreciation, a loss from fair value adjustment of investment property, and weaker results from associates.

• Gross profit declined; finance expenses lowered slightly due to refinancing, but were still significant versus finance income.

• Cash and cash equivalents rose to S$58.6 million, supported by new loans and matured treasury bills.

• Net asset value per share was 87.16 cents at 30 June 2025, compared to 88.42 cents at the end of 2024.

• No interim dividend was declared, consistent with the company’s usual practice.

• The company expects a cautious outlook for the remainder of 2025 due to global economic uncertainties, inflation, and rising costs, but continues to seek growth in hospitality and property development sectors.