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Straits Trading cuts losses by 64.3% YoY to $43.5m in 2H23

In 1H23, the company recorded a $121.8m loss.

Straits Trading narrowed its losses in 2H23 by 64.3% YoY to $43.5m.

For the FY23 period, the company’s loss attributable to its owners was $28.6m, reversing its earnings of $551.3m in FY22.

In 2H23, the company also saw a 0.6% YoY lower revenue of $255.9m.

Revenue also fell for its tin mining and smelting segment, which saw a 1.9% YoY decline to $222.7m in 2H23.

The company attributed the lower revenue for the segment to the "currency translation impact from weaker Malaysian Ringgit against Singapore Dollar.”

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