Lai Sun Development's (HKG:0488) subsidiary eSun(HKG:0571) expects a maximum loss attributable to owners of HK$520 million for the year ended July 31, wider than HK$198.8 million logged for the previous fiscal year.

Lai Fung (HKG:1125), another subsidiary of Lai Sun Development, expects a 50% lower loss attributable to owners for the year ended July 31, compared to HK$584.7 million logged for the previous fiscal year, a joint Tuesday Hong Kong Exchange filing by Lai Sun Development and Lai Sun Garment (International) (HKG:0191) said.

eSun attributed the increase in its attributable loss to an increase in the impairment of assets during the reporting year.

Lai Fung attributed the decreased loss to a reduction in administrative, net, and operating expenses, and a fair value gains on investment properties resulting from a decrease in construction costs.

The property developer's shares were down over 23% on Tuesday's close.

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