SINGAPORE (Feb 26): HL Global Enterprises saw its earnings soar to $86.2 million for the FY17 ended December, compared to a net loss of $0.2 million a year ago.
This was due to one-off gains of $48.3 million on the disposal of a wholly-owned subsidiary, LKN Investment International, and $38.5 million on the disposal of investment in a joint venture, namely LKNII’s 60% equity interest in Copthorne Hotel Qingdao Co.
Full-year revenue fell 15.2% to $11.7 million in FY7, from $13.8 million a year ago.
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