PROPERTY developer Bukit Sembawang Estates saw a loss of S$11.6 million for the fourth quarter ended March 31, compared with a restated profit of S$22 million in the year-ago period, it said in a results announcement after market close on Monday.
The latest fourth quarter also saw S$22 million in operating expenses, compared with S$1.5 million in the year-ago period. This was due mainly to a S$9.7 million impairment loss on property, plant and equipment relating to Fraser Residence Orchard, and a S$10 million allowance for foreseeable losses relating to Makeway View.
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