MYP (F86) H2 2026 earnings summary

Executive summary

• FY2026 returned to net income of S$4.285m from a S$2.428m loss; fair-value gains, higher revenue and lower expenses drove the turnaround.

• MYP Centre occupancy was 94.5%; cash and cash equivalents reached S$127.488m, and NAV per share rose to 17.7 cents from 17.4 cents.

Financial highlights

• Revenue increased 2.8% to S$18.805m, supported by new tenancies and supplemental income, partly offset by tenancy non-renewals.

• Total expenses declined 19.0% to S$17.1m, including lower direct operating costs; staff costs increased to S$1.642m from S$1.565m.

• Operating activities result was S$14.588m versus S$11.868m; net finance costs improved to S$9.740m from S$13.699m.

• Basic and diluted EPS was 0.27 cents versus a loss of 0.15 cents; fair-value gain on investment properties was S$2.540m versus S$0.400m.

Outlook and guidance

• FY2027 priorities are preserving liquidity and financial resilience, sustaining occupancy, and enhancing long-term portfolio value through tenant engagement, maintenance and targeted works.

• Singapore office demand is expected to be supported by limited new supply and demand for quality space; leasing is expected to remain selective and cost-conscious.

• Capital allocation is to remain disciplined, with investment opportunities assessed for risk, funding capacity, returns and long-term value creation.