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North Asia Resources expects to shrink H1 loss by over HK$100M

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North Asia Resources expects to shrink H1 loss by over HK$100M

North Asia Resources Holdings Ltd. said Aug. 11 that it expects to book an attributable net loss of HK$110 million to HK$130 million in the first half, narrowing from the loss of about HK$245 million booked in the same period last year.

The company attributed the improved first-half results to increased revenues from its mining segment and its new business in cassava starch operations, lower impairment losses relating to mining rights and property, plant and equipment, lower finance costs and a gain from the disposal of its indirectly-held Topasia Computer Ltd. unit.

North Asia Resources is set to release its interim results on Aug. 21.