China motion slips into the red with $459m loss
China Motion Telecom International posted a net loss of $459.69 million for the fiscal year ended March, nearly 10 times its net loss of $47.47 million in the previous year.
Most of the loss was down to operating losses of $404.2 million. Turnover fell 4.6 per cent to $764.49 million.
The company, which is listed in Hong Kong and Singapore, earlier this month warned that it would post a significant loss, mainly due to material provisions related to its voice over internet protocol business and debts owed to it by China Motion Telecom Holdings, a mainland firm that is a substantial shareholder of three of China Motion Telecom International's subsidiaries.
China Motion Telecom International provides telecommunication products and services. Toh Han Shih
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