This anticipated loss marks a substantial increase from the HK$217 million loss reported in the previous year, yet it represents a narrowed loss from the first half of 2023 . Advertisment Intense Competition and Property Market Downturn Impact Revenues The anticipated fiscal year 2023 (FY23) loss is attributed to several factors impacting Shin Hwa World’s financial health . Notably, the integrated resort development segment has faced intense competition and a decline in hotel room prices and occupancy rates .