Tempus Holdings (06880) expects increase in year loss

   Tempus Holdings Limited (06880) said the group is expected to record a loss before tax of not less than HK$80 million (or HK$100 million if full provision for the impairment loss of fair value in respect of the loan is made) for the year ended 31 December 2019 as compared to a loss before tax of HK$25.40 million for the year ended 31 December 2018.
  The increase was due to (1) the impacts of external macroeconomic environment including the slowdown in global economy, the intensification in the China-US trade conflicts and the unstable situation in Hong Kong, which has led to the business of the group, i.e. trading and logistics business and sales of health and wellness products business, recorded a loss in 2019; (2) the interest incurred under the borrowings advanced by the financial institutions and convertible bonds issued by the company; (3) the loss incurred from the disposal of the investment properties held by the group of approximately HK$13 million and the loss on fair value change of the investment properties held by the Group of approximately HK$5 million; and (4) the provision for the impairment loss on fair value in respect of a loan with a principal amount of HK$30 million provided by the company to an independent third party as a result of the fact that the borrower and the guarantor failed to repay the same in accordance with the loan agreement.