Wing Tai Holdings Limited (SG:W05) has released an update.
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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.
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