SDP sees minimal future impact from Battersea development rental yield guarantee

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KUALA LUMPUR: Sime Darby Property Bhd (SDP) expects minimal future impact from the accounting adjustments related to International Financial Reporting Standards 17 (IFRS 17), despite incurring a wider share of joint venture losses due to a rental guarantee on the Battersea Power Station office tower.

Overall, Azmir said the company remains positive about its financial outlook and is confident of its strategy to manage and mitigate the impacts of these accounting adjustments.

"With the new building's occupancy rate starting at just 20 per cent, the accounting impact for 2024 has been notably large.

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Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Azmir Merican Corporate News /Business/Business News Property Sime Darby Property SDP Battersea Power Station

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-23 @ 17:35:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 575 words

Reading Time: 4 minutes read

Sentences: 18 lines

Sentence Length: 32 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 22226925

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