Resort-developer Banyan Tree Holdings sank deeper into the red with losses of $49.1 million in 1H2020 ended June, from the $2.6 million in losses a year ago.

The deepening losses was due to the impact of the global movement control restrictions on the tourism and hospitality sector.

This translates to losses per share of 5.85 cents on a fully diluted basis in 1H2020, compared to the 0.32-cent loss in 1H2019.

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