For every Frasers Property, CapitaLand and Mapletree Investments, there is a Stamford Land, Thakral Corp and World Class Land. These are small developers that braved the stormy seas and Singapore’s small market to try their luck in Australia.

Stamford Land for years has owned a portfolio of hotels and other real estate in Australia and New Zealand. Naturally, when the pandemic hit, the company’s earnings were affected although for the most recent 1HFY2021 ended September, there are signs of very significant improvements over 1HFY2020, when the hotels were shut. For the six months, operating profit of the hotels was around $22 million, versus a loss of $936,000 for 1HFY2020.

As a whole, Stamford Land’s earnings for 1HFY2021 was $16.3 million, versus just $1.5 million recorded for 1HFY2020. Revenue in the same period doubled from $40.1 million to $83 million. As at Sept 30, the company’s net asset value was 68 cents per share.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook