GLONGHWI|HKE HOLDINGS (01726.HK) announced on September 18丨HKE HOLDINGS (01726.HK) announced that the board of directors initially estimates that the Group expects to record losses of about SGD 14.5 million for the year ending June 30, 2023, while losses of about SGD 11.2 million for the year ending June 30, 2022.
The main reasons for the anticipated increase in losses are: (i) the increase in staff costs, mainly due to the increase in professional talent due to the development of the fintech platform business and the application for a virtual asset trading platform operator license; and (ii) the increase in IT-related expenses of the fintech platform business.