Advertisement
Singapore markets closed

  • Straits Times Index

    3,332.80
    -10.55 (-0.32%)
     

  • Nikkei

    39,583.08
    +241.54 (+0.61%)
     

  • Hang Seng

    17,718.61
    +2.14 (+0.01%)
     

  • FTSE 100

    8,164.12
    -15.56 (-0.19%)
     

  • Bitcoin USD

    61,393.78
    +441.36 (+0.72%)
     

  • CMC Crypto 200

    1,272.76
    -11.07 (-0.86%)
     

  • S&P 500

    5,460.48
    -22.39 (-0.41%)
     

  • Dow

    39,118.86
    -45.20 (-0.12%)
     

  • Nasdaq

    17,732.60
    -126.08 (-0.71%)
     

  • Gold

    2,336.90
    +0.30 (+0.01%)
     

  • Crude Oil

    81.46
    -0.28 (-0.34%)
     

  • 10-Yr Bond

    4.3430
    +0.0550 (+1.28%)
     

  • FTSE Bursa Malaysia

    1,590.09
    +5.15 (+0.32%)
     

  • Jakarta Composite Index

    7,063.58
    +95.63 (+1.37%)
     

  • PSE Index

    6,411.91
    +21.33 (+0.33%)
     

Stamford Land issues profit warning for 1HFY23, mainly due to FX losses

Lim Hui Jie
·1-min read

The company expects to record a net loss for the six months ending September.

Stamford Land Corporation has issued a profit warning for its 1HFY2023 ending September, with the company management saying that it is expecting to record a net loss for the half.

The net loss is mainly attributed to foreign exchange losses and fair value loss on its investment property in London, United Kingdom.

Separately, the company expects to complete two proposed disposals in December, namely, the Sir Stamford property at Circular Quay in Sydney, Australia and another proposed disposal of the Stamford Plaza Auckland in Auckland, New Zealand

ADVERTISEMENT

Following the completion of the above disposals, Stamford Land expects to record a gain on the disposal in its 2HFY2023 ending March 31, 2023.

Shares of Stamford Land closed flat on Oct at 36 cents.

See Also: