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Power Financial Group to post net loss for FY'18

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Power Financial Group to post net loss for FY'18

Hong Kong-based Power Financial Group Ltd. expects to post a net loss for the year ended Dec. 31, 2018.

The company said the loss will be "substantially less" than the HK$923 million loss it reported for full year 2017. The forecast was largely due to losses of approximately HK$176 million from fair value changes on securities investments, including both realized losses and unrealized losses.

The company's full-year results are expected to be released in March.