According to Gemdale's Feb 14 statement to the Hong Kong Exchange, it expects to incur a loss of between RMB4.2 billion and RMB4.8 billion for its FY2024.
OUE, which has interests in property, hospitality and healthcare, has warned that it will report a loss for its FY2024, which will reverse from earnings of $81 million reported for the preceding FY2023 ended Dec 31 2023.
The company attributes the expected losses to its share of losses from its 25.9%-held associate, Hong Kong-listed Gemdale Properties and Investment Corp.
