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Technics Oil & Gas warns of Q4 net loss

TECHNICS Oil & Gas issued a profit warning saying that it is expected to report an operating net loss for the fourth quarter and the full year ended Sept 30.

This is due to a provision of impairment recommended by the auditors, the group said on Monday before market opens.

Shares of the oil and gas engineering solutions provider were last traded at 74.5 cents on Friday, at 2.45 times of book value.