Challenger's Q3 profit down 50% on impairment charge, weak retail sales
Singapore
CHALLENGER Technologies warned that the business environment would be difficult in the near term as its net profit for Q3 ended Sept 30, 2016, halved year-on-year to S$1.75 million, due to a S$1.16 million impairment charge and weaker retail sales.
The impairment provision was for its investments in a last-mile delivery provider, which has scaled down its operations. Stripping out the impairment loss, net profit for the third quarter would have fa…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Microsoft launches lightweight AI model
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in