Glonghui March 20 | REGAL INT'L (00078.HK) announced that the company expects to record a net loss of approximately HK$1,792 million for the year ended December 31, 2023, compared with a loss of HK$358,300,000 last year.
Although the Group expects to achieve a gross profit of approximately HK$652,000,000 from operating its own business in the year under review, the expected increase in losses is mainly due to a sharp rise in financing costs, loss in fair value of financial assets, and depreciation expenses for the Group's hotel properties due to a sharp rise in interest rates in Hong Kong (especially in the second half of 2023).