ASL Marine warns of Q4 loss

ASL Marine issued a profit guidance on Monday for its unaudited fourth quarter and full year 2017 financial statements ended June 30, 2017 based on its preliminary review.

The shipbuilding and repair company warned that it expects a net loss for its fourth quarter, primarily due to weaker contribution from operations and impairment losses on receivables, inventories and chartering fleet of vessels in view of the protracted downturn and uncertainty of recovery in the global marine industry.

The group is still in the process of finalising its FY2017 results. Further details of the group's financial performance will be disclosed when it announces its FY 2017 results on Aug 29, 2017.

ASL Marine advised shareholders and investors to exercise caution when dealing in the shares of the company.