First Sponsor posts S$92.8 million H1 loss amid China market weakness

Singapore property developer First Sponsor reported a net loss of S$92.8 million for the first half of 2026, reversing a S$19 million profit from the same period a year earlier. Loss per share was S$0.0874 versus earnings per share of S$0.0116 previously, while revenue fell 11.2% to S$136.7 million.

The loss was driven by losses on financial derivatives, a S$36.7 million impairment on the Humen Oasis Mansion project in Guangdong, China, and share of losses from associate NSI. CEO Neo Teck Pheng cited a challenging operating environment due to geopolitical tensions and a weak Chinese real‑estate market. The group’s exposure to China assets dropped below 50% of total consolidated assets. Despite the loss, the board proposed an unchanged interim dividend of S$0.011 per share, and the shares closed flat at S$0.955.