HONG KONG: The territory's dominant fixed-line phone company said yesterday that the 2002 net loss its reported to US regulators was nearly seven times what it reported here due to different accounting standards.
In a filing with the US Securities and Exchange Commission, PCCW Ltd – whose shares are also traded as American Depository Receipts (ADRs) – reported a 2002 net loss of HK$52bil (US$6.67bil) using US generally accepted accounting principles (GAAP).
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
