Hong Kong television broadcaster sets up task force to recover the bond default that pushed it into its first financial loss since 2008

//Hong Kong television broadcaster sets up task force to recover the bond default that pushed it into its first financial loss since 2008

Hong Kong television broadcaster sets up task force to recover the bond default that pushed it into its first financial loss since 2008

Television Broadcasts Limited (TVB), Hong Kong’s dominant free-to-air terrestrial television provider, said it has set up a task force to recover US$106 million lost through two bonds investments in SMI Holdings.The investments in SMI’s secured and unsecured bonds ended in default, forcing TVB to make a HK$500 million write-off that pushed it into a 2018 loss of HK$199 million (US$25.3 million), its first financial loss since 2008, according to Bloomberg data. Without the impairment, TVB would…

Article by [author-name] (c) South China Morning Post - Read full story here.

By | 2019-05-22T14:00:20+00:00 May 22nd, 2019|Business|Comments Off on Hong Kong television broadcaster sets up task force to recover the bond default that pushed it into its first financial loss since 2008