Chinese Estates Holdings, a Hong Kong developer controlled by the family of fugitive property tycoon Joseph Lau Luen-hung, has swung from profit to loss after getting burned by stock market investments including China Evergrande’s plummeting shares.The company posted an interim loss of HK$35.5 million (US$4.56 million) for the six months ended in June, reversing HK$786 million of profit in the same period last year. It suffered an investment loss of HK$418.3 million, including changes in fair…
Source : South China Morning Post
Read more…Chinese Estates, run by family of fugitive tycoon Joseph Lau, swings from interim profit to loss as its Evergrande shares plummet
