Straits Trading narrows loss in FY2024

It was mainly due to net fair value gain from investment properties.

The Straits Trading Company Limited posted a $7.2m loss after tax and non-controlling interests for the financial year 2024, narrowing down from $28.6m in FY 2023.

The group said it was mainly due to net fair value gain from investment properties, partially offset by fair value loss from the derivative component of Exchangeable Bonds.

The real estate segment reported a profit after tax and non-controlling interests (PATNCI) of $17.6m, due to higher gains from investment properties in Australia, South Korea, and the United Kingdom.

The hospitality segment also reported a higher PATNCI driven by a higher share of results from its associates and joint ventures in Australia and Europe.

Meanwhile, the resources segment’s PATNCI declined due to weaker performance in the tin smelting segment.

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