Regal Real Estate Investment Trust (01881) announced that it is expected to have a loss of approximately HKD 19.8 million in the middle of the period (until June 2024) excluding the distribution to fund unit holders, while it earned a profit of HKD 105 million in the same period in 2023, including fair value gains from its investment property portfolio of HKD 16.5 million and HKD 120 million, respectively, in 2023.
Regal Real Estate Investment Trust (01881) announced that it is expected to have a loss of approximately HKD 19.8 million in the middle of the period (until June 2024) excluding the distribution to fund unit holders, while it earned a profit of HKD 105 million in the same period in 2023, including fair value gains from its investment property portfolio of HKD 16.5 million and HKD 120 million, respectively, in 2023.
The announcement stated that the loss during the middle term period is mainly due to the high level of interbank rates among Hong Kong banks in the first half of this year, which resulted in an increase in the financial expenses generated by the bank loan borrowing costs that Regal Real Estate Investment Trust borrowed with interest calculated in this way.
