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BRIEF-Hiap Hoe Updates On Impact Of Covid-19 Situation

Reuters SG
·1-min read

April 2 (Reuters) - Hiap Hoe Ltd:

* HIAP HOE LTD- UPDATES ON IMPACT OF COVID-19 SITUATION

* HIAP HOE LTD-FULL EXTENT OF COVID-19 IMPACT ON COMPANY'S FINANCIAL PERFORMANCE FOR HY2020 AND BEYOND CANNOT BE ASCERTAINED AT THIS POINT

* HIAP HOE LTD- COMPANY HAS SEEN A DROP IN OCCUPANCY RATES FOR GROUP'S HOTELS AND HAS WITNESSED WEAKER OPERATING PERFORMANCES ACROSS ITS PORTFOLIO

* HIAP HOE LTD- WILL CEASE ALL LEISURE BUSINESS OPERATIONS UNTIL 30 APRIL 2020

* HIAP HOE LTD - TO IMPLEMENT COST CONTAINMENT MEASURES INCLUDING TEMPORARY CLOSURE OF ROOMS & AMENITIES IN HOTELS & SHORTENING EMPLOYEE WORK HOURS

* HIAP HOE LTD- EXPECTS FINANCIAL PERFORMANCE IN HY2020 TO BE ADVERSELY IMPACTED AS COMPARED TO CORRESPONDING PERIOD LAST YEAR Source text for Eikon: Further company coverage: