MYP Ltd reported a net profit of S$1.20 million for the six months ended 30 September 2025, reversing a net loss of S$2.21 million a year earlier as finance costs fell and operating expenses eased.

Revenue inched up 1.8 per cent year-on-year (YoY) to S$9.35 million, driven mainly by new tenancy agreements and higher ad-hoc income from its investment properties.

Earnings per share came in at 0.08 Singapore cents, compared with a loss per share of 0.14 cents in the prior-year period. The board did not declare an interim dividend.

Results from operating activities rose 11.3 per cent to S$5.80 million, while net finance costs declined 37.6 per cent to S$4.63 million, reflecting lower interest rates on the group’s bank loan. Profit before taxation totalled S$1.18 million, against a pre-tax loss of S$2.20 million in 1H FY2025.

Expense lines were mixed. Direct operating expenses for investment properties fell 9.7 per cent to S$2.24 million due to lower utilities, offset by higher property tax and maintenance outlays. Other operating expenses dropped 26.7 per cent to S$0.51 million as the previous period had included non-recurring professional fees linked to a property disposal. Staff costs increased 5.5 per cent to S$0.76 million, while depreciation rose to S$0.03 million following recent renovation work.

As at 30 September 2025, net asset value stood at 17.5 Singapore cents per share, up from 17.4 cents at end-March. Cash and cash equivalents were S$91.38 million on the balance sheet, or S$83.29 million after adjusting for debt-service reserves. The group held secured bank borrowings of S$324.30 million, maturing in December 2026.

Strategic initiatives remain focused on identifying “value assets with the potential to generate attractive returns”, the company said. Management added that it is monitoring office rental conditions and interest-rate movements, while maintaining a strong balance sheet for future investments.

Looking ahead, MYP expects external factors such as office rental trends and financing costs to influence performance over the next 12 months.