While the companyt enjoyed better operating numbers from the recovery of its hospitality businesses, the big chunk of the earnings growth came from $645 million in fair value gain on its Singapore investment properties.
Hotel Properties Limited, whose managing director Ong Beng Seng is involved in the corruption case of former minister S Iswaran, has reported a surge in earnings for FY2023.
For the year ended Dec 2023, the company reported earnings of $561.0 million, versus $40.2 million reported for the preceding FY2022.
