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S i2i updates on loss and profit in financial statements for Q4, FY2016

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In a filing to Singapore Exchange, S i2i said the difference arose mainly because of an additional provision of S$1.45 million for impairment against a loan receivable consequent to the dismissal of the company's application to set aside the issuance of shares by a borrower.

S i2i announced on Wednesday there is a difference in some figures in its audited and unaudited financial statements for the fourth quarter of 2016 and financial year 2016.

In a filing to Singapore Exchange, S i2i said the difference arose mainly because of an additional provision of S$1.45 million for impairment against a loan receivable consequent to the dismissal of the company's application to set aside the issuance of shares by a borrower.

As a result, the group's net loss in the audited statement for Q4 2016 is S$1.8 million, widening from the loss of S$365,000 in the unaudited statement. For FY2016, the group's net profit is S$462,000 in the audited statement, down from S$1.89 million in the unaudited statement.

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