Shin Hwa World expects net loss for H1 to decline by 20% to 35%
The company expects increased revenue from its gaming and property development segments.
South Korea.- Shin Hwa World Limited, the former Landing International Development, has issued a profit alert announcing that it expects to record a decrease in net losses of approximately 20 per cent to 35 per cent year-on-year for the first half. This is due to increased revenue and a decline in costs and losses from intangible assets. The group will publish interim results later this month.
In July, the stake of Yang Zhihui, the former chairman and executive director of Shin Hwa World Limited was diluted to 9.74 per cent following a rights issue. Public shareholders’ ownership has been diluted from 36.16 per cent to 26.45 per cent.
The company’s largest substantial shareholders are now Pauline Lam and Zhang Tingting, holding 17.96 per cent and 16.67 per cent, respectively. The underwriter and the 16 subscribers procured by the underwriter now collectively hold a 29.18 per cent stake.
