Success Universe, an investor in Macau’s Ponte 16, said it expects to report a gain of about 30-40 percent in 2019 profit, compared with the HK$54.2 million ($6.98 million) it reported the prior year.
The company said in a filing to the Hong Kong Stock Exchange that the increase was due to its share of the profit relating to the Macau casino, which is Success Universe’s flagship project.
Gains from Ponte 16 helped to offset a decrease in fair value gain on its investment properties, as well as the write-down of the carrying amount in the group’s property portfolio.
Success Universe expects to report its final results towards the end of March.
The company has a 49 percent interest in Ponte 16, with SJM Holdings owning the outstanding amount.
The property is in Macau’s inner harbour and comprises a luxury Sofitel hotel, a casino and food and beverage outlets. The company gave no further details in its profit alert.