SAI Leisure reported interim results for the six months ended 30 June 2026, booking revenue of US$23.51 million, up 11.6% year-on-year. Hotels & Resorts remained the core contributor, representing 85.5% of revenue, followed by Luxury Travel Retail at 11.8% and Destination Services at 2.7%.

Operating loss narrowed to US$5.70 million from US$7.09 million a year earlier, driven by higher room and food-and-beverage takings at Crowne Plaza resorts in Guam and Saipan. Net loss attributable to shareholders improved to US$8.21 million (1H25: US$9.59 million). Depreciation and amortisation totalled US$5.41 million.

Liquidity remains tight. The Group ended the period with US$3.50 million in cash against net current liabilities of US$42.32 million. Interest-bearing bank borrowings stood at US$38.05 million, all classified as current due to repayment-on-demand clauses. Gearing ratio was 161.1%. A US$15.00 million shareholder loan tranche was converted into perpetual capital during the period, and total utilised shareholder loans reached US$47.05 million.

Auditors drew attention to a material uncertainty over going concern, citing negative working capital and upcoming debt maturities. Management is in active refinancing talks with its principal bank and obtained an additional US$7.00 million short-term credit line in August. Controlling shareholder Tan Holdings has provided a standby facility of US$9.00 million and committed ongoing financial support.

Operationally, first-half trading was disrupted by Super Typhoon Sinlaku, yet Crowne Plaza Resort Saipan benefited from emergency housing demand by relief agencies, lifting segment revenue by 33.0%. Newly launched services on Managaha Island began in February but were suspended after the typhoon; full resumption is targeted for August. All Guam and Hawaii retail boutiques continue normal operations.

No interim dividend was declared. The Board cited cautious capital management amid refinancing efforts and post-typhoon restoration work.