Home Capital Results

Emerging Towns & Cities guides for loss in 1HFY2021

Samantha Chiew
Samantha Chiew8/23/2021 5:51 PM GMT+08  • 2 min read
Emerging Towns & Cities guides for loss in 1HFY2021
Emerging Towns & Cities guides for a loss in 1HFY2021.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Emerging Towns & Cities Singapore (ETC) is advising shareholders that it is expecting to report a loss for its 1HFY2021 ended June.

The loss is mainly attributable to the company's ongoing process of finalising the valuations on the group’s investment properties as at end-June. Based on indicative values, the company expects to recognise fair value losses on the group’s investment properties at the Golden City project, which are non-cash in nature; write-down of the group’s development properties at the Golden City project in 1HFY2021, which are non-cash in nature; and lower revenue recognised for the sales of Golden City property units in 1HFY2021.

This profit guidance is based on a preliminary review of the unaudited financial results of the group
for 1HFY2021. The group is still in the process of finalising the financial results for 1HFY2021 and
further details of its financial performance for 1HFY2021 will be disclosed when it announces its 1HFY2021 financial results on or about September 16, 2021.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.