Perennial Real Estate warns of expected first quarter loss

Perennial Real Estate Building in Singapore’s Chinatown area; taken September 2018.Perennial Real Estate Building in Singapore’s Chinatown area; taken September 2018.

Perennial Real Estate warned Monday that it expected to report a first quarter net loss due to a weaker operating performance of some assets and higher financing costs.

It added that it expected to be profitable in the second quarter on the completion of the disposal of its entire stake in Chinatown Point Mall, which was announced Monday.

The first-quarter results will be released in May, Perennial said in a filing to SGX before the market open Monday.

 

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