SINGAPORE (Mar 5): Property group Hongkong Land, a member of the Jardine Group of companies, reported earnings of US$198.0 million ($274 million) for FY2019 ended December, down from earnings of US$2.48 billion a year ago. 

This was due to the group booking losses of US$878.4 million, resulting primarily from lower valuations of the group’s investment properties, compared to net gains from revaluations amounting to US$1.42 billion in FY2018.

In addition, the group booked a net loss in fair value of investment properties of associates and joint ventures of US$32.6 million in FY2019, compared to gains of US$188.6 million a year ago.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook