Sky One narrows H1 loss; still studying planned RTO

SKY One Holdings posted a smaller half-year net loss as its old businesses suffer from weak demand.

But the logistics company said yesterday that it continued to study a planned reverse takeover by a coal mining business, and was modestly upbeat about its recently acquired coal logistics business.

Sky One, whose shares mysteriously collapsed as much as 90 per cent a week ago, said net loss attributable to shareholders for the six months ended Sept 30 narrowed to HK$1.2 million (S$192,313), or 0.38 HK cents per share, on a slight increase in revenue and a sharper reduction in administrative expenses.