Singapore's Amcorp Global half-year revenue drops, net loss narrows

Overview

• Singapore investment holding firm's net loss narrowed for the half-year ended 30 Sept

• Revenue for the half-year fell 34.4% yr/yr to S$1.94 mln

• Lower loss driven by reduced finance costs and higher other operating income

Outlook

• Company did not provide specific guidance or outlook in the interim financial statements in its press release

Result Drivers

• SIBUJAYA AND VIETNAM SALES – Revenue declined mainly as SibuJaya Block 4 was completed and Vietnam recorded no land sales

• HIGHER-MARGIN SIBUJAYA UNITS – Gross margin improved to 31.3% from 23.9% on revenue from Block 4's remaining three higher-margin units

• WRITE-DOWN, FINANCE COSTS AND ASSOCIATES' LOSSES – The absence of an Australian office-unit write-down and lower borrowing rates reduced expenses and associates' losses

Company press release:

Key Details

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)