Landing to hit record profit in 17H1

The Hong-Kong based company said that net profit record is expected for the six months ended June 30.

Hong Kong.- Landing International Development Ltd revealed that the company is expecting a record net profit for the six month period that ended on June 30, compared to the net loss reported during the same period last year.

According to a filing from the company, the growth is related to several property-related measures, such as gain on fair value change of investment properties, AGBrief reported. Earlier this month, the company told investors that a narrowed net loss for the interim period was expected. The agreement with LionsGate to develop a theme park at Jeju Shinhwa World integrated resort could strengthen the results for the upcoming years as well.

The company has been working on its intern operations, as the chairman of Landing formally offered to acquire the shares in the company that he doesn’t already own back in June. The offer conducted by Landing International was reportedly financed with its own resources and a loan facility courtesy of Kingston Securities Ltd. The company said that by acquiring extra shares they can increase stakes and consolidate control. Landing International Ltd had already acquired 5.26 percent stake in Landing International Development, which means that the firm owns 51.41 percent. Landing International made the offer of US$0.0096 per share.