Rich Goldman issues profit warning

Rich Goldman Holdings Limited issued a profit warning on Friday notifying shareholders that it would be recording more than HK$80 million (US$10.4 million) in losses for FY2020.

The warning stated that the setback was primarily attributable to an impairment loss on properties in an amount of approximately HK$65 million, and a fair value loss of the group’s investment properties of approximately HK$13 million.

The company noted that these losses relate to non-cash items and so are not expected to have any material impact on company cash flows.

Rich Goldman’s main businesses are junket promotion, money lending, and hotel operations.

Latest Intelligence

Latest issue

PATA CEO sees slow recovery, but optimism for future

AGB Podcasts