Pudong Development Holdings sustained a $111.54 million net loss in the first half of this year after an attributable profit of $23.81 million in the six months to September 30 last year. The company, a Tomson Group member, said provisions for bad debts, a fall in property values and a dimunition in the value of marketable securities caused the heavy loss. Turnover was down to $92.85 million compared with $248.72 million in the corresponding period. No dividend was recommended. The company has changed its financial year-end from March 31 to December 31.