Sitoy Group (HKG:1023) expects to swing to an attributable loss of HK$170 million to HK$190 million for the year ended June 30, compared with a profit of HK$101.9 million a year earlier, according to a Sept. 19 Hong Kong bourse filing.

Shares of the firm fell nearly 4% in Monday's late-afternoon trade.

The company cited a non-cash, fair value revaluation loss of HK$105 million to HK$115 million on investment properties and a one-off loss of about HK$83.6 million from the termination of its Cole Haan business.

The property investment segment is also set to widen its loss following weaker demand and falling Hong Kong office prices.