Tat Hong warns of Q3 loss
CRANES and heavy equipment supplier Tat Hong Holdings said on Wednesday it expects to report a loss for its third quarter ended Dec 31, 2015.
This estimation is based on a preliminary review of its consolidated unaudited results, the group said in an announcement to Singapore Exchange.
The loss is primarily attributable to costs and provisions associated with exiting the excavator distribution business in Indonesia, weak performance from its Australian operations as well as foreign-exchange losses, it added.
The group will disclose further details of its losses through its unaudited financial statements for Q3 FY2016, to be released on or around Feb 12.
Tat Hong closed Wednesday trading at 48 Singapore cents, down half a cent, before its latest announcement.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Cordlife’s independent auditor to retire after issuing disclaimer of opinion on FY2023 financials
Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO
VinFast chief plans to invest US$1 billion more from his fortune in EV maker
XPeng CEO says its software, AI upgrades to enter ‘super fast cycle’
Asia: Markets mixed as global rally stalls, eyes on yen
Morgan Stanley Asia private equity unit to reorganise as CEO retires