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Orange Sky Golden Harvest Warns of Loss, Denies Breakup Rumors
Multi-territory Asian cinema operator, Orange Sky Golden Harvest denied that it is to be broken up, but revealed deeper losses.
The announcement, made in a regulatory filing, came just days after the company denied that it was preparing to sell off its cinemas in Singapore, which represent the biggest component of its business. It offered little explanation for the worsening losses – which come despite improving box office activity – except to say that the 2022 figures were flattered by a HK$56 million gain from a property disposal. Late last week, the group responded to an anonymously-sourced Bloomberg report that said OSGH management is considering a sale of its Singapore Hong Kong or Taiwan cinema chains.
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