Pacific Century Regional Developments Limited (PCRD) reported a net loss attributable to shareholders of S$16.13 million for the six months ended 30 Jun 2026, an improvement from the S$23.87 million loss a year earlier, as a smaller share of losses from associate PCCW helped offset higher finance costs.

Basic and diluted loss per share eased to 0.61 Singapore cents from 0.90 cents in 1H 2025. The board declared an interim, one-tier tax-exempt dividend of 1.79 cents per share, lower than the 2.20 cents distributed a year ago. The payment date and books-closure details will be announced later. During the half, the company also paid a final FY 2025 dividend of 3.50 cents per share (FY 2024: 5.96 cents).

Revenue, derived entirely from distributions received from HKT Trust and HKT Limited, inched up 0.5 per cent year-on-year to S$1.75 million. Operating loss before interest and tax narrowed to S$1.18 million from S$1.76 million, reflecting lower foreign-exchange losses (down to S$0.35 million from S$1.20 million) and reduced travelling and miscellaneous expenses.

PCRD’s share of associated companies’ results improved significantly. The company booked a net loss of S$9.13 million from associates, less than half the S$16.50 million loss a year earlier. The improvement stemmed chiefly from PCCW Limited, where PCRD’s share of loss declined to S$10.20 million (1H 2025: S$17.12 million) following a rebound in PCCW’s profitability. The group’s 49.9 per cent-owned Indian logistics associate KSH contributed a profit of S$1.07 million, up from S$0.62 million.

Finance expenses rose 3.6 per cent to S$5.78 million as average borrowings climbed to S$296 million, although the average interest rate slipped to 3.58 per cent from 5.15 per cent. Total borrowings stood at S$308.0 million at end-June, secured mainly against PCCW and HKT securities; net debt increased to S$303.5 million from S$285.6 million at end-2025.

Cash flows improved markedly: net cash from operating activities swung to an inflow of S$14.0 million from an outflow of S$1.16 million in the previous first half, helped by receivables collections. Group cash and cash equivalents closed the period at S$163.9 million, compared with S$4.55 million a year earlier.

Looking ahead, PCRD said its performance remains closely tied to PCCW, which reported a 7 per cent rise in revenue to HK$20.20 billion and a 27 per cent increase in consolidated profit to HK$959 million for 1H 2026. PCCW declared an interim dividend of 9.77 Hong Kong cents per share and highlighted ongoing investment in AI-enabled services and content expansion at streaming unit Viu as strategic priorities. PCRD indicated it will continue to monitor PCCW’s progress and maintain its focus on disciplined capital management, including prudent use of borrowings and sustaining shareholder returns.