Nov 19, 2020 / NTS GMT
Siu Ming Kwok - Sa Sa International Holdings Limited - Executive Chairman & CEO
Good afternoon, ladies and gentlemen. Welcome to Sa Sa's interim results presentation for the 6 months ended September 30, 2020.
To cope with the raging COVID-19 pandemic across the world, many countries have implemented strict entry exit control measures. As a case in point, Mainland China has suspended the Hong Kong and Macau individual visit scheme. As a result, the group recorded a loss in its core markets of both Hong Kong and Macau Special Administrative Regions. Overall, the group's turnover decreased by 62% year-on-year to approximately $1.290 billion for the first half of the year. The group recorded a loss for the continuing operations of approximately $200 million, which excluded the impairment for retail store assets of approximately $46 million.
The Hong Kong SAR still maintains stringent border control measures. The number of Mainland Chinese visitors has dropped to nearly 0. Moreover, the government social distancing initiatives have also impacted local customer spending, which in turn has led
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