AsiaSec PPT (00271.HK) announced that the group expects to record a net loss of approximately HKD 15 million to HKD 20 million for the six months ending on June 30, 2024, compared to a net profit of approximately HKD 15 million for the six months ending on June 30, 2023.
The main reasons for the group's financial performance change are (i) the fair value loss on investment properties during this reporting period, compared to the fair value gain on investment properties in the same period last year; and (ii) the financing costs recorded during this reporting period are from loans and other borrowings granted by the group's intermediate holding company, while no financing costs were incurred for the six months ended June 30, 2023.
