Legend to write off goodwill losses from Beijing Legend acquisition

HONG KONG (AFX-ASIA) - Legend Holdings Ltd spokesperson Alice Li said the company will write off losses from goodwill as the result of its 1997  acquisition of Beijing Legend, starting from the current year ending this month.	    Li said it is too early to say how the write-off will affect Legend's bottom line.	    Li did not disclose the size of the write-off, saying the company needs more discussions with its accountants to decide how to proceed with the plan.	    However, the report cited industry sources as saying Legend will have to write off about 1.889 bln hkd from goodwill losses related to the acquisition.	    The report said the write-off will be made based on the guidelines issued by the accountants association in January. 

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