GLONGHUI September 18th 丨HKE HOLDINGS (01726.HK) announced that the board of directors initially estimates that the Group expects to record a loss of about SGD 14.5 million for the year ending June 30, 2023, and a loss of about SGD 11.2 million for the year ended June 30, 2022.

The main reasons for the expected increase in losses are: (i) the increase in staff costs, mainly due to the increase in professional personnel due to the development of the fintech platform business and the application for a virtual asset trading platform operator license; and (ii) the increase in IT related expenses in the fintech platform business.