Asia Tele-Net and Technology (HKG:0679) forecasts its net loss will narrow to not more than HK$20 million in 2024 from HK$304 million in 2023, according to a Friday filing with the Hong Kong bourse.

The electroplating equipment manufacturer's forecast is attributable to lower reversals of impairment losses under expected credit loss models and wider fair value losses on investment properties, leading to nearly flat revenue, the filing said.

Asia Tele-Net plans to release full-year results on March 27.