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TA Corp sinks into the red in 1H with $10.9 mil loss

Michelle Zhu
Michelle Zhu8/10/2017 7:40 PM GMT+08  • 2 min read
TA Corp sinks into the red in 1H with $10.9 mil loss
SINGAPORE (Aug 10): Property construction group TA Corporation has reported a loss of $10.9 million for the half year ended June, compared to its earnings of $0.2 million in 1H16.
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SINGAPORE (Aug 10): Property construction group TA Corporation has reported a loss of $10.9 million for the half year ended June, compared to its earnings of $0.2 million in 1H16.

For 1H17, the group’s revenue grew 22% to $107.8 million due to higher revenue contribution across all business segments, particularly the real estate development and real estate investment segments, which led to a 22.7% growth in the group’s gross profit to $20.4 million.

The higher revenue was however more than offset by a fair value loss of one of TA Corp’s investment properties, Tuas South Dormitory.

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