[ET Net News Agency, 15 November 2019] Lippo Limited (00226) said the group expects to
record a share of profit of joint ventures of not less than HK$200 million for the six
months ended 30 September 2019 (the period), as compared to a share of loss of HK$160
million for the six months ended 30 September 2018 (last period).
It said the turnaround mainly resulted from the gain on disposal of interests in an
associate by a joint venture, higher contribution from equity-accounted investees of the
joint ventures and partially offset by the fair value loss on investment properties of the
joint ventures during the period.
However, it is estimated that the group would record a fair value loss on its investment
properties of HK$66 million for the period. Such fair value loss was mainly due to the
softening property market in Hong Kong. Accordingly, the group is likely to record a
profit attributable to equity holders of the company of not less than HK$50 million for
the period as compared to a loss of HK$312 million for the last period. (KL)