Absence of fair-value gains drags Blumont into the red for Q3
Full-year deficit expected as Q3 registers a S$13.48m loss, against a S$33.73m profit a year ago
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Angela Tan
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Singapore
BLUMONT Group has sunk into the red for the third quarter ended Sept 30, 2014, given the absence of the S$40.91 million net unrealised fair value gains on its financial assets seen a year ago.
Instead, it incurred S$1.74 million in net other losses in the third quarter after its portfolio of equity investments in companies listed on the Singapore Exchange and Bursa Malaysia fell in value. As a result, group net loss was S$13.48 million, or 0.52 Singapore cent, compared to a net profit of S$33.73 million, or 1.97 cents, a year ago.
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