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2003-11-17 11:16:00 a.m. HKT, XFNA
HK's Unity Investments says Radford stake buy to adversely affect FY results
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HONG KONG (AFX-ASIA) - Unity Investments Holdings Ltd has warned that its
investment in Radford Capital Investment Ltd will have an adverse impact on
its 2003 financial results and net asset value.
Unity holds 40 mln shares in Radford with a market value of 6.4 mln hkd
and represents 5.98 pct of the company's investment portfolio.
Unity lost 10.81 mln hkd on its investments in Radford after the latter's
share price plunged to 0.154 hkd on Nov 14 from 0.49 hkd on Oct 31, the
company said in a statement.
""The board would like to inform shareholders and investors about the
situation and remind them to exercise extreme caution and restraint, while
dealing in the shares of the company,"" Unity said in a statement.
(1 usd = 7.8 hkd)
jill.wong@afxasia.com
jyw/ds
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