Pearl Oriental Cyberforce reported a net loss of HK$747.53 million for the year to December 31, largely due to a provision made for falls in the value of properties. The property-turned-technology company posted a net profit of HK$48.28 million a year earlier. It made a HK$499.92 million provision for the fall in property value last year, compared with a HK$203.87 million provision the preceding year. A HK$57 million provision was made for doubtful loans. Chairman Wong Kwan said provisions had been made for investment properties, luxury projects and hotels. He said Internet-platform provider Caripac.com - 25 per cent owned by Pearl Oriental - was expected to list on the Growth Enterprises Market (GEM) within two to three months. Another Web site, zol.com.cn - 50 per cent owned by Pearl Oriental - was expected to list in Nasdaq at the end of the year. Apart from seeking listing opportunities for its subsidiaries and associates, Pearl Oriental will set up GrandCyber Corp to hold its Internet and e-commerce units. Mr Wong said GrandCyber would also seek a listing in Nasdaq or GEM. He expects turnover of Internet and e-commerce businesses would be hundreds of millions dollars this year. Pearl Oriental plans to sell half of its properties, worth HK$1.8 billion, this year.