Hong Fok

[knightrid]

Just wanted to provide update and thank you for your advice.

Have divested out of Hong Fok to more shareholder friendly companies.

[weijian]

In 1H24, there was a total of 11 concert nights from Taylor Swift/Coldplay and the visa-free scheme for PRCs came into effect strategically just before CNY. So if all 3 metrics - ARR (average room rate), avg occupancy and revPAR have underperformed on a YoY basis, something is really really wrong.

Condensed Interim Consolidated Statement Of Comprehensive Income For The Six Months Ended 30 June 2024

In Singapore, hotel room revenue, revenue per available room and average occupancy have overall registered decreases in the first half of 2024. This decline was due to an increase in hotel room supply in the market, change in travellers’ profile and macroeconomic factors, including the strong Singapore dollar against foreign currencies that may deter tourists to visit Singapore as compared to neighbouring countries. However, hotels in Singapore are eyeing a pickup in demand in the coming months driven by various top-tier events that are likely to bring more visitors in Singapore. The Group is in discussion with its hotel operator to adopt strategies to improve the performance of YOTEL Singapore Orchard Road.

1H24 results:
https://links.sgx.com/FileOpen/HFC1H2024...eID=815761