MIng Kei sees bigger loss

Ming Kei Energy expects its net loss for the six months ended 30 September 2009 will increase significantly as compared with that for the corresponding period in 2008.

The increase in loss was mainly attributable to the record of no revenue from the mining segment after 3 July 2009 as a result of the completion of the disposal of 51 percent of equity interest in the Star Fortune International Investment Company Limited. The record of estimated loss on the Disposal of Star Fortune amounted to approximately $6.9 million.

The loss is also partly due to the increase of the administrative expenses.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.