Asia
Asset Chain Forecasts Narrower Fiscal-Year Loss
Asset Chain (HKG:0616) expects to narrow its net loss for the year ended March 31 to up to HK$80 million from a loss of HK$365.3 million a year prior, according to a Monday Hong Kong bourse filing.The property developer attributed the forecast to the reversal of write-down on properties held for development for sale, a rise in the net gain on changes in fair value of financial assets at fair value through profit or loss, and a narrower loss on the disposal of investment properties.Other factors contributing to the forecast included a narrower loss on the modification of terms of a convertible note and lower finance costs.
HKG:0616
