FINANCIALS

The vision for the newly merged entity is to advance our endeavours and to deliver a company that has the foundations and vision to generate further value for our shareholders through Azuri and a number of potential projects in the Indian Ocean Region. The capabilities of our core team and Board members will place BlueLife in position to maximise returns in the coming years, to be best in class, and to enhance the quality of living and lifestyle across the region.

The land development segment reflects the value of the 403 arpents of freehold land available for future development, the carried cost for lots available for sales as well as the preliminary project planning and design expenses relating to on-going projects.The yielding property under management remained stable, as compared to last year, but will be reduced in the financial year ending 30 June 2020 due to the sale of the HomeScene building in Circle Square Retail Park in August 2019, and the sale of the Motor City property aimed before the end of the next financial year.