Asset Chain (HKG:0616) expects to narrow its net loss for the year ended March 31 to up to HK$80 million from a loss of HK$365.3 million a year prior, according to a Monday Hong Kong bourse filing.
The property developer attributed the forecast to the reversal of write-down on properties held for development for sale, a rise in the net gain on changes in fair value of financial assets at fair value through profit or loss, and a narrower loss on the disposal of investment properties.
Other factors contributing to the forecast included a narrower loss on the modification of terms of a convertible note and lower finance costs.
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