SINGAPORE (Nov 8): Hotung Investment Holdings announced earnings of NT$93.2 million ($4.2 million) for the third quarter ended Sept, up 11% from NT$84.2 million a year ago.
Revenue for the quarter fell 38% to NT$158.7 million from NT$255.5 million in the previous year, and comprised mainly from divestment and dividend gains on the sales of available-for-sale investments; income from fund investments; and revaluation on other financial assets at fair value.
However, total impairment losses narrowed 79% to NT$16.2 million while total operating expenses fell 18% to NT$35 million.
Noting an impending change of the Federal Reserve chairman and a proposed overhaul of the American taxation system which is likely to impact the investment industry, Hotung says it will continue to monitor developments in this particular area to identify any arising risks and opportunities ahead.
Shares in Hotung closed 1 cent lower at $2.04 on Wednesday.
