Singapore and Hong Kong-listed Titan clocked up a deficit of HKD 4.57bn ($5689.5m) in 2013 amid what it calls “crippling financial hardship”.

The loss follows on from a HKD 4bn reversal in 2012.

Titan was hurt by a HKD 5.38bn charge on discontinued subsidiaries last year, throughout which its stock remained suspended pending a complete restructuring.

The company has wound up more than 20 divisions over the past year and a half as part of a huge overhaul under new management.