Brief: Wah Sun Handbags International Sees Net Profit Between HK$9 Mln & HK$13 Mln For Year

Wah Sun Handbags International Holdings

25/05/2020 15:50

May 25 (Reuters) - Wah Sun Handbags International Holdings
Ltd  2683.HK :
    * SEES  NET PROFIT IN RANGE OF HK$9 MILLION AND HK$13
MILLION FOR
YEAR
    * ACTIVELY NEGOTIATING WITH LANDLORDS FOR RENTAL REDUCTIONS
    * GOT CONSENTS FOR RENT REDUCTIONS FOR SOME OF OFFICES &
LAND FROM
LANDLORDS WITH 50% RENTAL REDUCTIONS FOR APRIL TO SEPT
    * EXPECTS ECL PROVISION FOR IMPAIRMENT OF TRADE RECEIVABLES
OF
ABOUT HK$34 MILLION FOR YEAR
    * ALL EXECUTIVE DIRECTORS REDUCED MONTHLY SALARIES BY 50%
TEMPORARILY FROM APRIL
    * STAFF SALARIES WILL ALSO BE ADJUSTED TO REFLECT CURRENT
MARKET
CONDITIONS

Source text for Eikon:  urn:newsml:reuters.com:*:nHKS1Fw5dc
Further company coverage:  2683.HK 

 ((Reuters.Briefs@thomsonreuters.com;))