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Southwest Securities International expects FY'19 net loss to widen

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Southwest Securities International expects FY'19 net loss to widen

Hong Kong-based Southwest Securities International Securities Ltd. expects a "significant increase" in consolidated net loss for the year ended Dec. 31, 2019, as compared to the prior-year period.

The company said the expected result is mainly due to an increase in the group's expected credit losses on accounts receivable arising from the margin financing business of approximately HK$312.9 million for 2019.

The company said the financial position of the group remains healthy and solid.