Pine Capital expects wider half-year net loss on one-off costs
CATALIST-LISTED investment firm Pine Capital, which had recently been in a legal tussle with its former chairman, expects to post a wider net loss for the half-year ended Sept 30.
A "significant" part is due to one-off costs - including increased compliance costs - incurred by the company as part of steps to ready it for resumption of trading, Pine Capital said.
Trading in Pine Capital shares has been suspended since March.
In addition, the group has been hit by lower revenue as a result of the suspension on its subsidiary, Advance Capital Partners Asset Management, on fundraising activities.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
HSBC brings out tax tools for UK businesses ahead of new rules
Nelson Loh intends to plead guilty to charges including forgery and cheating
Singapore shares edge up at Friday’s open; STI up 0.2%
Data leak reveals links between money laundering accused Su Jianfeng and sale of Dubai properties
‘No better player’ than GIC to help revitalise fortunes of Singapore stock market: observers
Businessmen in Singapore placed on China’s wanted list weeks after money laundering raid in 2023