Chinese medicine retailer Nam Pei Hong (Holding) has unveiled its long-awaited first-half results, which showed net losses soaring from $4.86 million to $85.13 million.
For the six months to September, there was a $78.03 million exceptional loss, against a $763,000 exceptional loss in the previous corresponding period.
The exceptional loss arose mainly from a $58 million previously disclosed stock shortfall at a subsidiary, which is being investigated by the police for discrepancies. The results, initially scheduled to be released on December 30, were delayed because of the problem.
The Commercial Crime Bureau yesterday said it was still looking into possible fraud involving a mis-statement of stock value in the first half. It started the investigation on December 21.
Nam Pei Hong's operating loss rose sharply to $6.06 million, from the previous $3.92 million.
Basic loss per share was 37.98 cents and directors again decided against paying an interim dividend.
