OUE’s revenue for 1HFY2021 halved to $152 million from the same period last year, from all-across weakness in its hotels and real estate businesses.

However, it is able to report earnings of $30.1 million, versus a loss of $207.2 million.

This time last year, the company recognized a fair value loss from the sale of its office property in Los Angeles, the US Bank Tower. While carried on its books at US$650 million, the property was sold for just US$430 million last year. 

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