Tuan Sing Holdings Limited has announced a net profit of $14.5 million for the first half of 2025, driven by fair value gains of $19.2 million from its investment properties and hospitality assets. The gains were primarily attributed to the asset enhancement works at Dunearn Village, formerly known as Link@896, in Singapore. Despite the profit, the Group experienced a 34% decline in revenue to $70.3 million due to reduced contributions from its real estate and hospitality segments.
The real estate investment segment saw an 11% drop in revenue to $24.5 million, largely due to ongoing enhancement works at Dunearn Village. The mall, located along Dunearn Road, is expected to positively impact recurring revenue upon its reopening. The Group’s CEO, William Liem, emphasised the importance of these gains, stating, “The fair value gains underscore the quality of our assets and the value creation of our asset enhancement works.”
In the hospitality sector, revenue decreased by 7% to $41.7 million, with the Residence on Langley Park in Perth experiencing a slower take-up following its rebranding. However, the Group’s Melbourne hotel operations showed improved performance, supported by increased occupancy and revenue per available room.
Looking ahead, Tuan Sing remains cautiously optimistic about the real estate sector despite global economic uncertainties. The Group continues to focus on enhancing asset value and exploring new opportunities across its key markets, including Singapore, Australia, and Indonesia. The asset enhancement programme at Dunearn Village is set for completion by December 2025, promising to bolster the Group’s recurring revenue streams.
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