S$246.8m valuation loss hits Forterra Trust's Q2 results

FORTERRA Trust's bottom line was dealt a severe blow in the second quarter as its investment properties swung to a S$246.8 million loss in valuation from a gain of S$41.3 million a year ago.

The Q2 net loss attributable to unitholders was S$138.2 million, against a net profit of S$24.2 million a year ago.

As at June, its total portfolio, including its 55 per cent interest in Central Park Mall Qingdao, was valued at 10 billion yuan (S$2.02 billion), a drop of 7 per cent from 10.8 billion yuan in December last year.