The Hong Kong General Chamber of Commerce, a bastion of Hong Kong business savvy, is heading for its first annual trading loss in at least a decade.
The loss came as director Eden Woon Yi-teng said revenues were expected to fall 8 per cent this year, mainly because of a significant drop in income from the chamber's certificate of origin business.
The chamber is expected to make between a $2 million and $3 million trading loss and could also record a deficit again next year, he said.
'But we are hoping to close the gap,' he said.
Mr Woon said the chamber was looking at ways to reduce costs but no 'wholesale cuts' to the salaries of its 125 employees were planned.
'The total payroll cost will be less next year,' he said.
Through natural attrition, staff numbers have fallen about 7 per cent since last year.
