Banyan Tree records worst full-year loss ever

Singapore

RESORT group Banyan Tree, hit by what its chief said was a "perfect storm", turned in its worst full-year loss in its history last year.

Q415 found it in the red, with an S$18.36 million loss, a reversal from a profit of S$4.13 million a year ago.

This was despite a 34 per cent surge in revenue to S$123.16 million, fuelled by higher property sales. In Q4, the group recognised …