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.
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.
