Refile: BUZZ-HNA's Hong Kong unit tumbles after sale of land parcel at loss

Tysan Holdings

04/02/2019 03:09

(Refiles to add company codes)
    ** Shares in Hong Kong International Construction Investment
Management Group  0687.HK  tumble as much as 16 pct to their
lowest since Oct 22
    ** The unit of China's HNA Group  HNAIRC.UL  said on Friday
it sold its last land parcel in Hong Kong to local developer
Wheelock and Co's  0020.HK  property business for HK$3.91 bln
 urn:newsml:reuters.com:*:nL3N1ZW2HG 
    ** The transaction posts a loss of HK$740 mln ($94.33 mln),
it adds
    ** Co also says 2018 net profit will be "substantially
lower" than the HK$1.1 bln recorded in the first half, due to 
HK$450 mln impairment loss and HK$160 mln share option expenses
    ** Wheelock shares rise as much as 1.8 pct 

 ($1 = 7.8448 Hong Kong dollars)

 ((Reuters Messaging: clare.jim.thomsonreuters.com@reuters.net))