Hiap Hoe issues profit warning for Q1

PROPERTY group Hiap Hoe Limited said on Monday that it expects to report a net loss for the first quarter ended March 31.

In a filing with the Singapore Exchange, Hiap Hoe said that the loss is primarily due to foreign exchange loss and the fair-value changes in financial instruments.

The company will provide more details about the group's performance when it announces its unaudited financial results for Q1 on or before May 14, it said.

Hiap Hoe shares closed flat at S$0.895 on Monday.