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Pinestone Capital discloses FY'17 guidance

Pinestone Capital Ltd. said March 2 that it expects its profit for the year ended Dec. 31, 2017, to be adversely affected by a provision of at least HK$8.6 million.

The provision was made in respect of trade receivables concerning securities-backed lending services.

Pinestone Capital said its forecast is based on a preliminary assessment of the group's consolidated management accounts, as well as information available.

The Hong Kong-based company is finalizing its annual results, expected to be released by the end of March.