Rich Goldman expects to post US$2.29m loss for H2
Part of the loss is due to foreign exchange differences.
Hong Kong.- Junket promoter Rich Goldman Holdings has announced that it expects to record a loss attributable to owners of at least HK$18m (US$2.29m) for the six months ended December 31, 2022. That’s despite a 66 per cent year-on-year increase in revenue from HK$27m to HK$45m and a record profit of approximately HK$79,000, up from HK$4m a year earlier.
According to Rich Goldman’s filing, the loss is primarily due to foreign exchange differences resulting from the conversion of the group’s operations from Renminbi to Hong Kong dollars. This net loss on foreign exchange differences is a non-cash accounting procedure under Hong Kong Financial Reporting Standards.
The interim results are scheduled to be released by the end of February.
See also: Andy Lin Chuen Chow steps down as Rich Goldman chairman