HK$19b impairment hits Q4 bottom line of Hutchison Port trust
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
IMPAIRMENT losses dragged Hutchison Port Holdings Trust (HPH Trust) into the red for the fourth quarter ended Dec 31, 2014, marking a net loss of HK$18.6 billion (S$3.2 billion) compared with a net profit of HK$334.8 million in the year ago period.
An impairment of HK$19 billion was incurred during the quarter against the goodwill allocated to a cash generating unit (CGU) in Hong Kong, which was adversely affected by the uncertainties in the global economy, continued challenges in the trading environment in Hong Kong and labour cost pressures.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Singaporeans can now buy record amount of yen per Singdollar
