Singapore eDevelopment expects loss for fiscal 2015

SINGAPORE eDevelopment on Friday said the group expects to report a loss for fiscal 2015. This follows a loss in fiscal 2014.

It said the group's major property development projects, Ballenger Run and Black Oak, are not expected to commence revenue recognition until the financial year of 2016. It has also incurred development costs and operating expenses for its mobile app, Hotapp.

The preliminary unaudited financial loss for FY2015 is "significantly lower" as compared to S$20.8 million loss reported for FY2014, it said.