Li Heng reports S$5.7m Q3 loss on soft China economy

MAINBOARD-LISTED high-end nylon fibre maker Li Heng Chemical Fibre Technologies reported a net loss of 25.6 million yuan (S$5.7 million) for the three months ended Sep 30, 2015, from a 2.6 million yuan profit a year ago.

Revenue was down 28 per cent to 442.8 million yuan.

The company said average selling prices and sales volume of nylon yarn have dropped due to a soft economy in China and overseas markets.

Li Heng last traded on Monday at 51 Singapore cents, down four cents.