Cheuk Nang Technologies (Holdings) sank into the red with a net loss of HK$8.44 million for the six months to December 31 due to a hefty rise in interest expenses and an absence of property sales.
This compared with an interim profit of HK$44.2 million for the six months to December 31, 1999.
In the latest results, turnover slumped 93.4 per cent to HK$6.71 million from HK$101.82 million a year earlier. Finance costs jumped 46.26 per cent to HK$7.92 million from HK$5.42 million previously.
No interim dividend was given compared with one HK cent a year earlier.
The company proposed to change its name - for the second time in a year - to Cheuk Nang (Holdings), to reflect its present and future focus on non-technology related business. The name is expected to be effective on or about April 9.
Last year, the firm renamed itself from Cheuk Nang Properties (Holdings) to focus on information technology investment.
