Property player OUE has reported FY2020 losses of $343.4 million, versus earnings of $255.2 million in the preceding year as it took fair value losses of some $435.4 million, including those recognised upon the sale of the US Bank Tower last September.

OUE, which runs a sizeable hospitality business too, recognised additional impairment losses on plant and equipment. However, lower financing costs helped offset some of the hit.

During the year, the company extended some $19.9 million worth of relief to its tenants as it takes a “long-term view” of its relationship with them amid the pandemic.

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