The Straits Trading Company Limited reported earnings of $5.5 million for 1H20 ended June, down 87.1% from the $42.5 million a year ago.

The group said that the lower earnings were due to the lower valuations of investment properties, losses in its hospitality associate, disruptions in the supply and demand chain for tin, as well as a decline in the market value of investment securities over the half-year period arising from Covid-19.

Earnings per share (EPS) for the same period stood at 1.3 cents compared to the 10.4 cents registered a year ago.

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