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)