Full-year revenue plunged by 98.3% y-o-y to $805,000 mainly due to the absence of revenue from property development projects after INSPACE obtained its temporary occupancy permit (TOP) on January 2023. The project’s revenue was also fully recognised in FY2023.
SLB Development has reported a loss of $22.1 million for the FY2024 ended May 31, reversing from earnings of $8.4 million in the year before.
The group made a deeper loss of $17.5 million for the 2HFY2024, compared to the loss of $2.2 million in the 2HFY2023.
