From April 19, Singapore’s nightlife will make its comeback.
The company manages an extensive product portfolio across four segments, namely spirits, beer, non-alcoholic beverages and food.The beverage maker suffered two consecutive years of falling revenue in its fiscal years 2020 and 2021 , mainly due to lower beer sales. The dearth of tourists, nightlife, and the work from home trend have reduced mobility around cities, resulting in the fall in ridership.Story continuesRevenue grew 9.1% year on year to S$3.54 billion, while operating profit came in at S$125.4 million before government reliefs, reversing an operating loss of S$47.6 million in FY20.The segments are rail, electrification, logistics, and non-emergency medical transport.
To better position itself ahead of the anticipated rebound in tourism, the group has also announced plans to enhance its offerings. In Singapore, Suntec REIT owns Suntec City, Suntec Singapore Convention & Exhibition Centre, as well as one-third stakes in One Raffles Quay, MBFC Towers 1 and 2, and Marina Bay Link Mall.The outlook is optimistic for offices due to SIngapore’s attractiveness as a business hub.