Metro Holdings Limited, a property investment and development group, has reported a pre-tax loss of S$12.9m for the first half of the financial year ending 30 September 2025 (1HFY2026). This marks a significant downturn from the S$7.0m profit before tax recorded in the same period last year.
The loss is attributed primarily to a S$13.7m decrease in interest income, alongside a S$4.6m increase in the share of losses from associates and a S$3.5 million drop in joint venture profits. These declines are largely due to higher fair value losses on properties in China. Additionally, the retail division’s contributions fell by S$1.6m. However, the impact was somewhat offset by a reduction in finance costs by S$3.3m, thanks to lower average interest rates and borrowings.
Revenue for 1HFY2026 decreased by 13.9% to S$41.6m, down from S$48.4m in the previous year, driven by reduced retail contributions and lower rental income from GIE Tower in China. Despite these challenges, Metro Holdings maintains a robust balance sheet, with net assets valued at S$1.1b and total assets at S$2.0b.
Metro’s proactive asset management strategy included the sale of approximately 29% of the strata area at VisionCrest Orchard, a Grade-A office building in Singapore. Chairman Tan Soo Khoon noted the ongoing global uncertainties and market headwinds, particularly the slowdown in China’s property sector and Singapore’s retail challenges. He emphasised the company’s commitment to maintaining financial strength and optimising returns through diversified portfolios and prudent capital management.
