Pacific Century Premium Developments Limited*
announces interim results for six months ended June 30, 2019
Hong Kong - August 7, 2019
Interim financial highlights
(Figures for the corresponding period of 2018 are shown in brackets)
Consolidated revenue - HK$207 million (HK$165 million) Consolidated operating loss - HK$56 million (loss: HK$107 million) Consolidated loss - HK$156 million (loss: HK$198 million)
Basic loss per share - 9.82 HK cents per share (loss: 12.49 HK cents per share) Did not declare interim dividend (Nil)
Pacific Century Premium Developments Limited ("PCPD", SEHK: 00432), a majority-owned
subsidiary of PCCW Limited (SEHK: 00008), today announced its interim results for the six months ended June 30, 2019.
During the period under review, the consolidated revenue of PCPD and its subsidiaries (collectively the "Group") amounted to approximately HK$207 million, compared to HK$165 million for the corresponding period of 2018.
For the six months ended June 30, 2019, the Group's consolidated loss attributable to equity holders of the Company amounted to approximately HK$156 million, compared to a net loss of HK$198 million for the corresponding period of 2018. The basic loss per share was 9.82 HK cents, compared to a loss of 12.49 HK cents per share for the corresponding period of 2018.
The Board of Directors did not declare the payment of an interim dividend for the six months ended June 30, 2019.
In Indonesia, Pacific Century Place, Jakarta recorded a stable performance in office leasing. The building remained a sought-after business address for leading international financial institutions and multinationals. Approximately 85% of the office space has been reserved or committed to date. We will continue to liaise with potential tenants who expressed interest in taking up a whole floor.
In Japan, the Group's Park Hyatt Niseko Hanazono Residences ("Branded Residences") in Hokkaido continued to attract immense interest from global investors. We are delighted that over 90% of the Branded Residences has been sold or reserved to date.
Benjamin Lam Yu Yee, Deputy Chairman and Group Managing Director of PCPD, said, "We look forward to introducing the exceptional Park Hyatt Niseko, Hanazono in early 2020. The luxury accommodations at Park Hyatt Niseko, Hanazono and the Branded Residences will set a new benchmark of luxury hotels and holiday homes in Niseko."
In Thailand, we started the first phase design and infrastructure work at the Phang-Nga resort project. In June 2019, the Group announced the construction of the golf and country club. The golf and country club, with recreational facilities and F&B services, will support the golf course which is expected to start operations by the end of 2020. The Group is proceeding to formulate marketing plans and develop the show suite. We expect to launch the sales of the first batch of villas in the second half of 2019.
The Group continues to look for investment opportunities around the world, including those in Hong Kong and Southeast Asia.
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About PCPD
Majority-owned by PCCW Limited ("PCCW", SEHK: 00008), Pacific Century Premium Developments
Limited ("PCPD" or the "Group", SEHK: 00432) is principally engaged in the development and management of premium property and infrastructure projects as well as investment in premium-grade buildings.
- Pacific Century Premium Developments Limited is a company incorporated in Bermuda with limited liabilities.
For media and investor inquiries, please contact
Amy CHEUK
Corporate Communications and Investor Relations
Tel: (+852) 2514 3963
Email: amy.wk.cheuk@pcpd.com
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