In 2021, the company had a $543 million profit. After reporting a profit rise of 48.5 percent to $543 million in 2021, Far East Consortium stated it is well positioned for economic recovery. “Because of the actions we’ve taken to minimize our cost base, our profitability will improve when the business improves. When the COVID-19 outbreak is contained or completely eliminated, this bodes well for the Group’s performance “FEC’s Executive Director, Chairman, and Chief Executive Officer, Tan Sri Dato’ David Chiu, stated. “The Group remains dedicated to capital recycling by investigating the sale of non-core assets within its asset portfolio,” says the statement. To offset the impact of a 20.2 percent drop in overall sales to $5.9 billion in 2021, the Group cut costs and expenses. Revenue from recurring income businesses fell 34.3 percent year over year, while revenue from hotel operations fell 33.9 percent. Furthermore, income from its property development business fell to $4.2 billion in 2020 from $4.8 billion in 2020. The Group, on the other hand, was able to stay profitable thanks to cost-cutting measures as well as incentives and compensation programs offered by various governments across the world. The Far East Consortium got a total of $203 million in funding. “We have a healthy balance sheet and excellent employees in all of our markets. We feel we are well-positioned to continue to develop and offer a sustainable and healthy dividend to our shareholders, while staying attentive “Chiu added to this. After issuing 10-year notes with a principle amount of $200 million and 3-year notes with a principal amount of US$235 million, the Group was able to retain a strong financial position. Get Hong Kong Business sent straight to your inbox. Your e-mail address is required. Since you’ve arrived, there are a variety of ways you may collaborate with us to promote your business and interact with your customers. Our team can assist you in planning and executing a print and digital advertising campaign, as well as on our website and in print magazines. We can also host a live or virtual event for you, bringing in thought leaders and industry leaders who could be possible partners. We also conduct certain awards programs that allow you to be acknowledged for your accomplishments throughout the year, and you can participate or sponsor them. Allow us to assist you in moving your business forward with the support of a good collaboration! I’d like to obtain a copy of the media kit.
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