HONGKEW Holdings, suspended from trading since June 1991, last night announced a much-reduced interim loss attributable to shareholders to 31 December of $5.5 million and gave a detailed timetable for a return to the exchange trading floor.
Chief executive Michael Coorey said the announcement meant the ''major haemorrhage in Hongkew's key businesses has been halted''.
The previous interim loss attributable to shareholders was $61.3 million.
Operating losses of $25 million at the previous interim stage have been flattened to $1.5 million, and extraordinary items, which last year were write-offs and provisions worth $36.2 million, fell to $2.8 million.
This $2.8 million is for fees for two property sales and the attempt to re-list the company.
The company's relisting plan centres on the purchase of the Lafe Group from Grande Holdings, in return for which Grande will take a controlling shareholding in Hongkew.
Mr Coorey said he hoped shareholders would get a circular in the next two weeks and an extraordinary general meeting could take place in early June, with trading restarting that month.
