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China Environment, Enviro-Hub, Ezion, Full Apex, PSL, San Teh warn of losses

Monday, February 22, 2016 - 22:06

A WAVE of profit warnings have surged onto the shores of Singapore-listed stocks amid the current reporting season.

On Monday, recyling and e-waste management company Enviro-Hub Holdings and property development and pipes and fittings group San Teh said they expected a net loss for the year ended Dec 31. Neither provided reasons.

Marine and construction logistics provider PSL Holdings also said stiffer competition and acquisition-related fees would push it into a loss for the fourth quarter and year ended Dec 31.

Plastic products supplier Full Apex (Holdings) expects a fourth-quarter loss to drag its full year into the red on the back of impairment provisions after the closure of two bottling plants and a drop in sales.

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China Environment, an industrial waste gas treatment specialist, said non-cash impairments on property, plant and equipment and trade and bill receivables will lead to a loss for 2015.

Offshore and marine contractor Ezion Holdings cited impairments of assets as a result of the weak oil industry in warning of a net loss in the fourth quarter and a significant decline in full-year profit for 2015.

Those six warnings came on Monday alone. On Sunday, precision plastics manufacturer Hi-P International and coal trader Abterra also issued profit warnings.

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