Nam Fong International 1999 property investment devalued by HK$639mln

Nam Fong International (1176) made pre-taxed loss for HK$1120mln in 1999 end-Dec, which was 2.67 times more than last year. The figures did not include influence of property project evaluation. According to evaluation at the end of the year, the investment on property should be devalued by HK$639mln, which definitely spelt negative influence on the whole performance of the company in 1999.

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