Sinwa issues profit warning for full-year and Q4 2016

MARINE supplies and logistics services provider Sinwa Limited is expecting to incur a loss in its full-year and final-quarter financials for 2016 as a result of an impairment loss.

Announcing this in a release after market close on Monday, the board of Sinwa said that "after preliminary assessment of the group's draft unaudited financial results for the full year ended Dec 31, 2016, the group is expected to record a loss in fourth quarter 2016 and FY2016."

The loss incurred was wholly due to the impairment loss on asset held for sale.

Further details of the group's financial performance will be disclosed when the company finalises and announces its unaudited financial results for FY2016.