The Straits Trading Company Limited reported a profit after tax of 6.3 million Singapore dollars for the six months ended Jun, 30 2026, reversing the non-cash loss recorded in the previous corresponding period.
Group revenue climbed 49.5% year on year to 400.0 million Singapore dollars, supported chiefly by stronger contributions from the Resources division on higher average tin prices, greater sales volumes and appreciation of the Malaysian ringgit.
Segment performance was mixed. Resources booked a net profit of 29.6 million Singapore dollars, an increase of 21.2 million Singapore dollars from a year earlier, while Hospitality narrowed its loss to 0.1 million Singapore dollars, helped by improved operating metrics and currency translation gains. Real Estate registered a 15.5 million Singapore-dollar loss, widening by 2.3 million Singapore dollars on foreign-exchange effects and reserve reclassifications, although associate and joint-venture results improved. The “Others” segment reduced its loss to 7.7 million Singapore dollars, mainly due to the absence of prior-year remeasurement losses on exchangeable bonds and lower finance costs.
Group total comprehensive income declined by 203.0 million Singapore dollars year on year, a fall attributed to the non-cash impairment from the loss of control over the Sanlin joint venture, fair-value changes in investment properties and a remeasurement of exchangeable bond derivatives. Nonetheless, other comprehensive income rose by 42.2 million Singapore dollars following reserve reclassifications and foreign-currency gains.
As at Jun, 30 2026, cash and bank balances stood at 280.4 million Singapore dollars, down 42.6% from Dec, 31 2025, mainly due to loan repayments. Total borrowings were reduced by 19.9% to 1.10 billion Singapore dollars, lowering the net debt-to-equity ratio to 57.5% from 61.8%.
Management highlighted improved tin-segment margins following the consolidation of smelting operations at Pulau Indah and the closure of the Butterworth plant, as well as solid rental and occupancy trends in South Korean and Australian logistics assets. The company continues to pursue disciplined capital recycling, having divested the Arenas Yeongjong Logistics Centre in South Korea at an internal rate of return above 20 %.
Looking ahead, Straits Trading plans to focus on maintaining portfolio occupancy above 90 %, progress development of its mixed-use Straits City project in Penang, expand in logistics and senior-living sectors, and deepen partnerships to attract third-party capital while monitoring macroeconomic headwinds and geopolitical risks.