Future Bright records HKD110 million in losses

Future Bright Holdings Limited has reported that, for the first half of the year, the company recorded some HKD110 million in losses. The food and beverage firm of lawmaker Chan Chak Mo announced in a statement to the Hong Kong Stock Exchange that the Covid-19 pandemic has affected its local retail business, which led to the temporary closure of most of its restaurants in the SARs and mainland China. In May, it also permanently closed down all of its Mad for Garlic restaurants, two Bari-Uma restaurants, one Fu-Un-Maru restaurant in Hong Kong and two restaurants in Taiwan due to their poor performance. According to the filing, the firm recorded a turnover drop of some 64.5% to some HKD200 million.

Property transactions stood at MOP14.7 billion in Q2

A total of 2,636 building units and parking spaces were purchased and sold in the second quarter of 2020 as per Stamp Duty record, with the total value of transactions at 14.7 billion patacas, up by 81.2% and 86.3% respectively quarter-to-quarter. According to data from the Statistics and Census Service, the purchase and sale of residential units increased by 990 quarter-to-quarter to 1,971 units, and the total value surged by 107% to 12.7 billion patacas. The number of existing residential units transacted rose by 838 over the previous quarter to 1,678, amounting to 10.5 billion patacas, up by 116.5%. Despite the economic downturn caused by Covid-19, the transaction volume of pre-sale residential units increased by 152 quarter-to-quarter to 293 units, and the transaction value grew by 70.2% to 2.1 billion patacas. The average prices of those in the Macau Peninsula (104,888 patacas) and Taipa (102,240 patacas) rose by 7.1% and 4.5% respectively, while the average price of those in Coloane (119,587 patacas) dropped by 2.9%.