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Singapore's MYP Ltd H1 revenue falls on outgoing tenants

By Reuters News


Overview

  • Singapore property investor's half-year revenue fell 3.6% yr/yr

  • Company reported net loss for half-year, reversing from net profit last year

  • Pretax loss for half-year contrasts with prior period's pretax profit


Outlook

  • Company did not provide specific financial guidance for the current or future periods in the press release


Result Drivers

  • RENTAL AND ANCILLARY INCOME – Revenue fell 3.6% to S$9.0 mln, mainly on outgoing tenants, lower supplemental income and lower electricity income

  • LOWER DEPOSIT INTEREST – Net finance costs rose 23.6% to S$5.7 mln, mainly due to lower interest income, partly offset by lower borrowing rates

  • TENANT REINSTATEMENT COSTS – Other operating expenses increased mainly due to non-recurring reinstatement costs incurred at an outgoing tenant's request


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Revenue

S$9.006 mln

H1 Net Loss

S$110,000

H1 Pretax Loss

S$49,000


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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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