Sino Construction posts S$7m loss
Sino Construction recorded a S$7 million net loss for its latest quarter ended Dec 31, 2014, versus a S$2.18 million net gain in the year ago period.
The net loss is mainly attributable to foreign currency translation differences that arose from translating the results of its discontinued operations and was reclassified to profit and loss upon the completion of its full disposal of Daqing Xinyuan Construction Installation on March 27, 2014.
The group's revenue stood at S$1.12 million, versus nil in the restated period last year. Loss per share was 0.53 cents, compared to 0.17 cents a year ago. Meanwhile, net asset value per share was less than one cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Far East Orchard acquires 49% stake in UK-based purpose-built student accommodation operator for £17.6 million
Nestle sales growth sputters on US slump, vitamin snags
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion