Wing Tai falls into the red in FY 2024 with $78.7m net loss

Lower revenue and operating profit drove the decline.

Wing Tai fell into the red in FY 2024, posting a net loss of $78.7m.

In a bourse filing, the company attributed its losses to lower revenue and operating profit, which fell 64% YoY to $169.2m and 16% YoY to $22.5m, respectively.

Wing Tai said its lower revenue was mainly due to the lower contribution from its development properties.

Meanwhile, operating profit declined due to lower profits recognised from The M at Middle Road and the absence of contributions from Le Nouvel Ardmore in Singapore, which was fully sold in the previous year.

Follow the link for more news on

Financial Statements

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia