During such times, you should take a step back and assess the business before putting money in it.What used to be an attractive business model may not be so any longer.
The group also owns around 65% in SPH REIT , a retail REIT that owns three properties in Singapore and majority stakes in two Australian shopping centres. However, in a COVID-19 business update released last month, the media giant reported a 40% year on year rise in the rate of subscription for the Straits Times.
The IR has six hotels with 1,600 rooms, a casino, shopping malls and lifestyle and entertainment outlets.In a quarterly business review released last month, the group announced that revenue fell by 36% year on year in the first quarter of 2020. The group remains pessimistic on the outlook for the rest of 2020 but will continue to gun for the Japan IR opportunity in Yokohama City.
Demand for the group’s products grew as household consumption increased due to movement control measures and lockdowns.
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