177 views
Photo by Tim Gouw from Pexels

Tuan Sing net profit sinks 52% in FY2024

The group’s revenue decreased by 37% YoY.

Tuan Sing Holdings Limited’s net profit attributable to shareholders dropped by 52% year-on-year (YoY) to $2.3m for the financial year 2024, driven by a decline in occupancy rate.

The group’s revenue decreased by 37% YoY to $192.5m due to lower contributions from Real Estate Development.

Revenue from the segment fell by 70% YoY to $44.9m due to lower progressive revenue recognition of units sold in Peak Residence.

Moreover, revenue from Real Estate Investment also sank 11% YoY to $53.4m due to lower contributions from Link@896 in Singapore.

The Hospitality segment remained stable with a revenue of $88.4m.

The company declared an earnings per share of $0.19.
 

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.


If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Exclusives

Monday.com picks Singapore for Southeast Asia expansion
Its in-house designers created Singapore-inspired artwork in the company's colors.
Tsuklio targets dual-income families in Singapore expansion
The Japanese meal subscription platform logged 3,000 pre-registrations before launch.
Choosier Asia buyers steer auctions toward rare art
Collectors are bidding harder for works with clear ownership histories.