CWG, the former Chiwayland, sees 3Q net loss widen to $11.6 mil

SINGAPORE (Nov 7): CWG International, formerly known as Chiwayland International, saw 3Q16 net loss widen more than eight-fold to RMB 56.6 million ($11.6 million) from a loss of RMB 6.4 million in 3Q15.

For the quarter to Sept, revenue declined 79% to RMB 118.1 million after fewer units of apartments were handed over to customers as there were no project completions.

The group sold an aggregate gross floor area of 11,700 sqm during the quarter, which comprised units from the inventory of existing projects completed earlier, compared with the 109,500 sqm sold a year ago.

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