Wing Tai Holdings Limited (SG:W05) has released an update.
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Wing Tai Properties Limited has issued a profit warning, anticipating a loss of approximately HK$1,300 million to HK$1,400 million for the six months ending June 30, 2024, a significant increase from the HK$374.2 million loss reported in the same period of 2023. This forecasted loss is attributed to a substantial decrease in the fair value of investment properties and an impairment provision for properties under development. However, the company assures that these are non-cash items and do not affect its healthy operating cash flow.
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