OUE expects first-half 2026 loss on China property downturn

SGX Filings
07/31

OUE (LJ3) said on Jul, 31 2026 that it anticipates a loss attributable to shareholders for the six months ended Jun, 30 2026 after a preliminary review of its unaudited results.

The projected shortfall is primarily driven by two factors. First, the share of losses from equity-accounted investees is expected to be between 30.0 million Singapore dollars and 50.0 million Singapore dollars, largely stemming from its 29.07% stake in Gemdale Properties and Investment Corporation Limited, whose operations in China have been hit by a soft property market and weaker economic conditions. In the same period a year earlier, this line item showed a loss of 46.0 million Singapore dollars.

Second, the group plans to book an impairment charge of between 40.0 million Singapore dollars and 60.0 million Singapore dollars on its investment in Gemdale.

OUE noted that both the anticipated equity losses and the impairment are mostly non-cash and should not materially affect its operating cash flow or funding needs.

The company intends to release its full unaudited first-half results on or before Aug, 14 2026 and advised investors to exercise caution when trading its shares until the figures are published.

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