OUE Limited says it expects to report a loss attributable to shareholders — or a net loss — for the FY2025 ended Dec 31, 2025.
The expected losses are mainly due to the estimated losses from Gemdale Properties and Investment Corporation (GPI), an investee company which is 29.07%-owned by the group. GPI’s business in China was said to be “adversely impacted” by the slow-down in the property market and the country’s current economic environment.
OUE Limited’s share of results, including GPI, recorded a loss of $46 million in the 1HFY2025. The group expects this loss to deepen to $220 million to $240 million for the year.
Due to OUE’s investment in GPI, the group expects to report an impairment loss, subject to a final assessment.
The provisional negative goodwill of $94.9 million which was recognised for the acquisition of additional equity interests in GPI in 1HFY2025 was also reversed in 2HFY2025.
According to OUE, the loss attributable to share of results of equity-accounted investees, the expected impairment of the group's investment in GPI and the reversal of the provisional negative goodwill are largely non-cash in nature. As such, there is no material impact on the group's operational cashflows and corporate funding requirements.
OUE is expected to report its FY2025 results on or before Feb 27.
Shares in OUE Limited closed flat at $1.19 on Feb 13.
