Singapore

MAINBOARD-listed Chinese shipbuilder Cosco Corporation (Singapore) unveiled a massive S$484 million loss for its fourth quarter, dragging full-year losses to S$570 million.

The size of the loss, due to allowances for impairment and write-offs on offshore-related orders, far exceeded the S$88-million full-year loss forecast by DBS Vickers, the only broking house to have issued a report on the stock in the past three months.