Sing Holdings Limited posted a net profit attributable to shareholders of S$0.17 million for the six months ended Jun 30 2026, plunging 95.8 per cent year-on-year as lower sales of completed industrial units and softer hotel rental income weighed on the bottom line.

Revenue fell 46.0 per cent to S$4.32 million, reflecting reduced contributions from both the property development and property investment businesses. Earnings per share slipped to 0.03 Singapore cents from 0.82 cents a year earlier. The group paid a total of 5.0 Singapore cents per share in final and special dividends for FY 2025 during the period, but did not declare an interim payout, in line with its policy.

By segment, the property development division swung to a loss of S$1.33 million from a profit of S$2.50 million a year ago, mirroring the sharp drop in completed-unit sales. The property investment arm, which comprises the Travelodge Docklands hotel in Melbourne, generated a segment profit of S$1.49 million, 9.4 per cent lower YoY as rental income eased and land-tax charges rose.

Higher finance costs, up from S$5,000 to S$0.70 million following additional project borrowings, and a 47.9 per cent jump in other operating expenses also eroded earnings. A S$0.95 million decline in other income, largely due to weaker fixed-deposit yields and lower rental takings from completed properties, added to the pressure.

Group equity attributable to shareholders contracted by S$17.2 million to S$443.0 million after the S$20.1 million dividend payment. Development properties rose to S$1.50 billion as spending continued on the 1,056-unit Chuan Grove project, while interest-bearing bank loans climbed to S$1.08 billion, reflecting fresh drawdowns to fund construction. Cash and cash equivalents stood at S$25.5 million at end-June, down from S$26.7 million at end-2025.

Looking ahead, management reiterated that full-year 2026 earnings will be “substantially lower” than the exceptional FY 2025, when an executive condominium project drove record profits, and cautioned that the group could register a loss this year given the absence of similar development handovers. Construction of Chuan Grove is slated to start in the third quarter, with a sales launch targeted for the first quarter of 2027.

The group said it will maintain a selective approach towards new land acquisitions while monitoring Singapore’s residential market, where non-landed home prices eased 0.1 per cent in the second quarter amid generally healthy buyer demand.