LHFG Faces a Net Loss of ฿708M in 1Q20 after Implementing TFRS9
LHFG Faces a Net Loss of ฿708M in 1Q20 after Implementing TFRS9.
LHFG Faces a Net Loss of ฿708M in 1Q20 after Implementing TFRS9.
22 เม.ย. 2563

LH Financial Group Public Company Limited (LHFG) has announced its 1Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

LHFG reported a net loss of 708 million baht in the first quarter of 2020, contrasted to a net profit of 806 million baht in the same period of last year. The decrease in profit was mainly from mark to market loss from investments in accordance with the new financial reporting standards (TFRS9).
The mark to market loss was from the investments of the company and its subsidiaries, mostly in Infrastructure Funds (IFF) at 86.57 %, Property Funds (PF) at 3.99% and REITs at 9.45%. The objective of investment was to receive consistent dividend and high yields so the company and its subsidiaries have selected IFF, PF and REITs with strong foundations.
As a result, the average dividend yield per year is around 7%, higher than the average annual dividend yield of the entire IFF, PF and REITs industries, which was approximately at 4.70%.