Cosco sinks deeper into the red for Q2
Group posts net loss of S$36.8m, expects worse days ahead
Singapore
SLUGGISH marine engineering and shipping markets sank net loss at Cosco Corporation for the quarter ended June 30 by close to seven times deeper when compared with the same period a year ago, even as it expects choppier waters ahead.
In a filing to the Singapore Exchange after trading closed on Friday, Cosco reported a loss of S$36.8 million for the second quarter of FY16. This compares with the S$4.8 million loss in Q2 FY15.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama