Property developer Socam Development has warned shareholders it might report a first-half loss, and said it would embark on an aggressive sales programme over the next several months to help offset a slump in revenues.
The company, which filed a profit warning statement with the stock exchange on Friday, said it had secured just 20 per cent of its targeted sales so far.
The group is now pinning its hopes for improved second-half revenue figures on finding buyers for its 73 luxury serviced apartments in Shanghai being sold under the Four Seasons brand.
'We have registered a number of interested buyers even before the official launch,' Philip Wong Kun-to, Socam Development's chief executive, told a group of reporters invited to view the Four Seasons Place project, located on the Pudong.