Banyan Tree posts losses in 2HFY20, but is ‘determined to build back better’, says Ho Kwon Ping

Banyan Tree posts losses in 2HFY20, but is ‘determined to build back better’, says Ho Kwon Ping
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SINGAPORE (March 1): Resort-developer Banyan Tree sank deeper into the red with losses of S$49.8 million in 2H2020 ended December, down from earnings of S$5.2 million in the year before.

This follows a 61% plunge in its revenue to S$82.5 million in 4QFY20, from S$213.97 million in the year before, that came as a result of the travel restrictions imposed globally to curb the spread of the coronavirus.

Specifically, hotel investments contributed to less than...(click on link for full story on theedgesingapore.com)