[ET Net News Agency, 20 December 2019] Midland IC&I Limited (00459) said it is expected
that the group will record a consolidated net loss attributable to equity holders for the
year ending 31 December 2019 as compared to the consolidated net profit attributable to
equity holders of approximately HK$48 million for the year ended 31 December 2018.
Such expected net loss is mainly attributable to the global economic uncertainties and
dampened economic sentiment in Hong Kong, which lead to (1) significant drop in
transaction value and volume of the non-residential properties in Hong Kong in the first
eleven months of 2019 as compared with that for the corresponding period in 2018; and (2)
decline in property prices in the market resulting in a fair value loss on revaluation of
investment properties held by the group as at 30 November 2019. (RC)
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00459 LEGEND UPSTAR
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0.098 +0.003 (+3.158%) Others
20/12/2019 14:52
Midland IC&I (00459) sees year net turn to red
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