Temasek’s Mapletree Posts First Loss Since 2004 on Office Slump
- Property firm’s full-year revenue edged down to S$2.8 billion
- Mapletree reported loss of S$577.2 million for the year
Revenue edged down to S$2.8 billion.
Photographer: Wei Leng Tay/BloombergThis article is for subscribers only.
Mapletree Investments Pte, a real estate firm owned by Singapore state investor Temasek Holdings Pte, recorded a loss for the first time in two decades, after bearing the brunt of a global commercial property downturn.
The loss was S$577.2 million ($428 million) for the fiscal year ended in March after accounting for tax and non-controlling interests, reversing a S$1.2 billion profit from a year earlier. Revenue edged down to S$2.8 billion.