According to Chan, Hong Kong is a “key uncertainty” as its poor half-year showing is primarily attributed to a US$12.8 million fair value loss for its Hong Kong property project investments amid a declining market.
SAC Capital analyst Matthias Chan has downgraded Uni-Asia to “hold” with a new target price of 80 cents, compared to $1.02.
His report comes after Uni-Asia reported a net loss of US$11.8 million ($15.4 million) for 1HFY2024 ended June 30 compared to earnings of US$4.2 million in the same period the year before.
