According to the Zhitong Finance App, Highland Treasure (08402) announced annual results for the year ended December 31, 2023. The group achieved revenue of SGD 18.3452 million during the period, an increase of 95.43%; shareholders' losses of SGD 1,437,900, a year-on-year decrease of 78.74%; and a basic loss of 0.3 Singapore points per share.

According to the announcement, the increase in revenue was mainly due to the recovery in demand in the Singapore construction market after the downturn caused by COVID-19, leading to an increase in the number of projects undertaken by the Group and an increase in revenue contributions from projects with relatively high contract value.