Wing Tai Holdings Limited (SG:W05) has released an update.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Wing Tai Holdings Limited reported a challenging first half of 2024 with a sluggish Hong Kong economic recovery and tepid investment sentiment causing property prices to fall and valuation losses of HK$1,352 million on their property portfolio. The interim results showed a core consolidated profit of HK$32 million, excluding non-cash valuation losses, but a total consolidated loss of HK$1,337 million including those losses. The rental market for Grade A office space remains under pressure due to an oversupply and weak demand.
For further insights into SG:W05 stock, check out TipRanks’ Stock Analysis page.