HOTEL PURCHASE BEHIND GOLDWIZ'S $3m LOSS

Property and strategic investment company Goldwiz Holdings has posted an net loss of HK$3.09 million for the first half ended September 30. Executive director Robert Lee said the loss was due to the acquisition of Harbour Plaza Kunming Hotel in July for HK$316 million, but added that the purchase was expected to be a stable source of income for the company. The company did not declare a dividend.