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Low year

In the first half of this year, Hong Kong group Eagle Legend Asia Limited registered some HK$12,000 in profit from its operations in the MSAR

Hong Kong investment holding company Eagle Legend Asia Limited registered around HK$12,000 (US$1,535) in losses from its operations in the MSAR in the first half of this year, with no revenue from Macau being registered in the same period, the group’s interim report informed.
However the results were a considerable improvement from the HK$113,000 in losses the group registered in the city in the first half of 2016, with Eagle Legend generating a total of HK$360,000 in revenue from Macau in that period.
The group is mainly engaged in trading, repair and leasing of construction machinery, together with manufacturing and sales of proprietary Chinese medicines and health products.
The group’s operations mainly cover mainland China, Hong Kong, Taiwan, Macau, Singapore and Vietnam.
In the first half of this year, Eagle Legend registered HK$155.5 million in revenue, a 22.9 per cent year-on-year increase from the same period last year.
The increase in the group’s revenues was mainly attributable to the sale of a dried plant named ‘exocarpium citri grandis’ used as a cough suppressant, with revenues from its sale amounting to HK$65.9 million. However, this was partly offset by the ‘decrease of sales of machinery, rental income from leasing of machinery and service income’.
Revenue from sales of machinery went down 66 per cent yearly to HK$15.6 million in the first half of the year, due to a decrease in the demand for ‘both new and used cranes in Hong Kong and Singapore’.
Nevertheless, the group’s losses in the first six months of this year were reduced by more than half to reach HK$10.1 million.

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