Cruiseship and shipyard group Genting Hong Kong has fallen into the red in 2016.
The net loss was $504.23m, compared to a profit of $2.1bn in 2015 as depreciation and impairments rose.
Revenue grew to $1.01bn from $689.9m for the owner of Star Cruises, Dream Cruises, Crystal Cruises and German shipyards Lloyd Werft and MV Werften, the former Nordic Yards.
It blamed the absence of a one-off gain of $1.56bn