Imperial Pacific International (IPI), operator of the Imperial Pacific Palace on the island of Saipan, closed its doors temporarily on March 17 due to concerns about the Covid-19 virus.
The Hong Kong-listed group also advised shareholders that its full-year results for 2019 will include higher financial losses.
The note stated that “based on the information currently available to the board, the group is expected to record an increase in net loss for the year ended 31 December 2019 as compared to the net loss for the corresponding period in 2018. The expected increase in net loss is mainly attributable to the considerable decrease in total revenue and gross profit and the impairment of trade receivables.”
