Metro Holdings in the red in Q2 on one-off expense
Singapore
PROPERTY and retail group Metro Holdings sank into the red with a net loss of S$13.59 million for the second quarter ended 30 Sept, weighed down by share of results of joint ventures.
Share of results of joint ventures recorded a S$17 million loss, against a S$3.91 million gain in 2QFY2017, mainly due to a one-off expense from the expiry of conditional remission of additional buyer's stamp duty (ABSD) for its joint venture project, The Crest at Prince Charles Crescent. This was partially offset by a reversal of a S$9.5 million write down due from a joint venture.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Carnival’s Princess brand revises 2025 world cruise routes amid Red Sea tensions
Google to pay up to US$6 million to News Corp for new AI content, The Information reports
Restaurant Brands tops estimates as Burger King overhaul pays off
Yen falls after suspected intervention on Monday; eyes on Fed
US: Wall St opens lower on labour costs data
TikTok shop tops 500,000 US sellers after 2023 e-commerce launch