However, earnings for the same period surged 343% to $833.1 million from $188.1 million last year, thanks mainly to revaluation gains on its industrial and logistics assets, which has become a bigger proportion of its total property portfolio.
Its hospitality business, meanwhile, remains affected by the pandemic, although it is seeing “green shoots,” says group CEO Panote Sirivadhanabhakdi.
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He warns that prolonged uncertainties around global economic activity will likely persist.
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The company will actively assess opportunities for enlarging its development base and unlocking value where feasible.
The company plans to pay a first and final dividend of two cents per share, up from 1.5 cents last year.
