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Kim Heng Offshore & Marine expects to report loss in Q2

KIM Heng Offshore & Marine Holdings on Thursday issued a profit guidance with respect to the group's unaudited financial results for the second quarter ended June 30, 2015.

It said that based on a preliminary review of its financial results, it expects to report a net loss in Q2 2015, as compared to a net profit in the corresponding period in 2014.

This is mainly attributable to a decrease in revenue due to the low demand for maintenance of rigs and related goods and services because of the fall in global oil prices.

The group added it is finalising its results for Q2.

Further details of its performance will be disclosed when the company announces its Q2 financial results on or before Aug 14.