These losses were offset by net fair value gain in investment properties in 1H2024 from logistic properties located in South Korea and Australia, and properties in Singapore.
The Straits Trading Company's net profit attributable to shareholders fell by 64.9% y-o-y to $5.23 million in 1HFY2024 for the six months to end-June. This was due to a decrease in dividend income for 1H2024 from a lower investment stake in Suntec REIT as compared to last year.
Other losses incurred in 1H2024 were mainly due to loss from the disposal of an investment property in Australia and lower fair value gain on the embedded derivative component of Exchangeable Bonds.
