Tan Chong expects unrealised loss of HK$222 million in FY22

AUTO dealer Tan Chong International on Monday (Jan 9) said that it expects to post an unrealised loss of HK$222 million (S$37.9 million) for the financial year ended Dec 31, 2022. The loss is not expected to be reclassified to the group’s consolidated statement of profit or loss.

Over the same period a year ago, the company posted an audited unrealised loss of HK$170 million. 

“The loss is due to share price changes of its listed investments, which are marked to market and therefore unrealised,” the company said.

The company added that the group’s final results announcement will be made before the end of March 2023.

Shares of Tan Chong International closed flat at HK$1.98 on Monday, before the announcement.