Rex International Holding Limited has issued an important addendum to its FY2024 Condensed Interim Financial Statements, unveiling a revised allocation of the total comprehensive loss for both the six-month period and the full year ended 31 December 2024.

Key Financial Highlights

• Six Months Ended 31 December 2024:
  • Owners of the Company: The comprehensive loss allocated to the owners has been updated to US\$30,707, a significant improvement from US\$68,049 recorded as of 31 December 2023 – marking a 55% reduction in the loss attributed to the owners.
  • Non-controlling Interests: The loss allocation for non-controlling interests now stands at US\$7,864, up from US\$6,031, reflecting a 30% increase.
  • Total Comprehensive Loss: The consolidated loss for the period is US\$38,571, down from US\$74,080, which corresponds to a 48% decrease compared to the previous period.
• Full Year Ended 31 December 2024:
  • Owners of the Company: For the full year, the loss attributable to owners has been revised to US\$39,100 versus US\$66,191 in the previous period, representing a 41% decrease.
  • Non-controlling Interests: The updated figure for non-controlling interests’ loss is US\$9,680, an increase of 71% from US\$5,656.
  • Total Comprehensive Loss: Overall, the net comprehensive loss has been revised to US\$48,780, down from US\$71,847, amounting to a 32% decrease.

Implications for Shareholders and Market Impact

The revision in loss allocation is a matter of significant interest to shareholders and investors. Although the aggregate comprehensive loss remains unchanged after tax, the reallocation between owners and non-controlling interests highlights a material shift in the company’s financial reporting. The reduction in the loss attributed to the owners suggests a relative improvement in the company’s performance metrics for the shareholder segment, which could positively influence investor sentiment and potentially impact the share price. Conversely, the increase in the loss attributed to non-controlling interests may prompt closer scrutiny of the group’s underlying performance.

Board Approval and Next Steps

The addendum was formally approved and released by the Board of Directors, with Executive Vice Chairman John d’Abo endorsing the update. The official announcement was made on 7 March 2025, lending further credibility and a clear governance framework to the revisions presented.

Conclusion

Investors should take note of these adjustments as they offer new insights into the allocation of losses within the group. This update, particularly the improved figures for the owners, could lead to a re-evaluation of share valuations and trading strategies in the market.