Singapore's First Sponsor Group posts HY net loss as revenue falls

First Sponsor

03/08/2026 11:30

Overview
Singapore property developer posted S$92.8 mln net loss for 1H2026
Revenue for 1H2026 fell 11.2% yr/yr amid weak PRC property market
Company made strategic hotel acquisitions in Amsterdam and reduced PRC asset exposure

Outlook
Company expects PRC asset exposure to temporarily rise above 50%, then revert below 50%

Result Drivers
PRC PROPERTY MARKET WEAKNESS - Co said revenue and profit were negatively affected by sustained weakness in the PRC real estate market
IMPAIRMENT CHARGE - Co recognised an impairment charge of S$36.7 mln on the Humen Oasis Mansion Project in 1H2026 due to an unfavourable outcome in related legal proceedings
DERIVATIVE AND FX LOSSES - Co recorded S$33.2 mln unrealised mark-to-market loss from derivatives and a S$10.7 mln net loss from matured derivatives, mainly due to currency movements

Company press release: ID:nSN7Xl7nq

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Net Loss
 
S$92.80 mln
 

Analyst Coverage
Wall Street's median 12-month price target for First Sponsor Group Ltd is S$1.30, about 36.1% above its July 30 closing price of S$0.96

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)