UOL, a big company, made less money in the first half of 2024 compared to last year. They earned $130.4 million, which is 3% less than before. This happened because they lost $12.2 million due to changes in the value of their assets.
The company’s total earnings also went down by 7%, reaching $1.27 billion. They made less money from building and selling properties, but their hotels and other property investments did better.
UOL’s property development business made 23% less money because fewer people bought homes from their projects. However, their property investments did better, making 8% more money. This was because their office buildings in Singapore did well, and they opened a new hotel in Jakarta.
Their hotel business also improved, making 11% more money. This was helped by opening a new hotel called Pan Pacific Orchard and their Pan Pacific Singapore hotel doing better.
Overall, while UOL faced some challenges, some parts of their business are still growing.