Hong Kong’s dominant broadcaster TVB swings to a loss of US$25.3 million on investment write-off

Hong Kong’s dominant broadcaster TVB posted a net loss of HK$199 million (US$25.3 million) for 2018, down from a net profit of HK$243 million a year earlier, mainly due to a write-off on bond holdings issued by Chinese theatre operator SMI Holdings Group.Television Broadcasts (TVB), held under parent film production company Shaw Brothers, said it had written off HK$500 million on its holdings of SMI Bonds, according to a filing on Wednesday night to the Hong Kong exchange.“Hong Kong business… Source link

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