Tian Teck Land (TTLL) (00266) and Associated International Hotels (AIHL) (00105) said it is expected that the unaudited consolidated results of the AIHL Group for the six months ended 30 September 2017 will record a loss before taxation of about HK$125 million as compared to a profit before taxation of about HK$133 million for the same period in 2016.
Such expected turnaround to loss was mainly attributable to the valuation losses of about HK$391 million in respect of its investment properties.
As AIHL is TTLL's 50.01% owned subsidiary, it is expected that the unaudited consolidated results of the TTLL Group for the six months ended 30 September 2017 will record a loss before taxation of about HK$111 million as compared with a profit before taxation of about HK$143 million for the same period in 2016, mainly attributable to the valuation losses of about HK$383 million in respect of its investment properties.
The interim results of AIHL and TTLL are expected to be published by the end of November.
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