Corporate digest
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Profit warnings
EPICENTRE Holdings, Sin Heng Heavy Machinery and Tiong Woon Corp have issued profit warnings. For the financial year ended June 30, 2016, Epicentre said it expects to report a loss due to "lower sale from certain Apple products as well as erosion of gross profit margin derived from the sale of third party accessories as a result of increased price competition".
Sin Heng Heavy Machinery expects to record a net loss for Q4 2016 and the financial year ended June 30, 2016. The loss is attributed to lower revenue due to the competitive operating environment and disposal of certain non-performing, old-aged cranes. The net loss for the financial year ended June 30 is also due to a one-time recognition of loss on the disposal of an associate company.
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