Singapore property developer Wing Tai Holdings has reported a staggering 91% drop in earnings, as its FY2023 results revealed a meager profit of just $13.3 million. The challenging market conditions and ongoing pandemic have dented the company’s performance, raising concerns about its future prospects. With uncertainty looming, Wing Tai’s management will need to strategize and adapt swiftly to navigate these difficult times.
CDL, the renowned property developer, has recently announced its 1HFY2023 earnings of $66.5 million. Sadly, this figure reflects a drastic 94.1% decline compared to the previous year, primarily due to the absence of significant gains from divestment. This news highlights the challenging circumstances faced by the company during the stated period.