KUALA LUMPUR, Feb 27 — Sime Darby Property Bhd fell into a net loss of RM318.70 million for six-month financial period ended Dec 31, 2018 , from a net profit of RM559.77 million recorded in 2017.
For the six-month period, the group’s share of loss from the 40 per cent-owned Battersea venture was RM7.7 million against a profit of RM112.1 million recorded in the previous year. “Having addressed our legacy assets and products, we expect an immediate return to profitability as operationally our performance has been positive.
Meanwhile, group managing director Amrin Awaluddin said the prolonged softness of the property market remained a major challenge but the group was hopeful of a silver lining with concerted effort from the public and private sectors.