However, earnings for the same period surged 343% to $833.1 million from $188.1 million last year, thanks mainly to revaluation gains on its industrial and logistics assets, which has become a bigger proportion of its total property portfolio.
Its hospitality business, meanwhile, remains affected by the pandemic, although it is seeing “green shoots,” says group CEO Panote Sirivadhanabhakdi.
See also: Marco Polo Marine's FY2025 earnings up 169.7% y-o-y on one-off gains and higher chartering income
He warns that prolonged uncertainties around global economic activity will likely persist.
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See also: ASL Marine reports earnings of $20.4 mil for 1QFY2026 up 13.3% y-o-y
The company will actively assess opportunities for enlarging its development base and unlocking value where feasible.
The company plans to pay a first and final dividend of two cents per share, up from 1.5 cents last year.
