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CSC Holdings guides for Q4 net loss on project cost over-runs

MAINBOARD-LISTED ground engineering company CSC Holdings is facing a fourth-quarter net loss for the three months to March 31, the board said in a profit warning on Tuesday.

"The net losses (were) incurred as a result of strict requirements and difficult working conditions on a particular project which resulted in cost over-runs," it said, adding that more details will be shared in the financial statements for the quarter.

Shareholders are advised "to act cautiously when dealing with their securities" and to keep in mind the results. CSC Holdings did not say when it expected to release its financial statements.

The group's order book stood at S$190 million as at Feb 11, 2019, it had earlier disclosed.

The counter closed up by 0.1 Singapore cent or 5.26 per cent at S$0.02 before the announcement.

sentifi.com

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