CWT's Q1 profit down 16% to S$29.2m
Singapore
LOGISTICS, commodity and engineering group CWT Ltd's first-quarter net profit dipped 16 per cent to S$29.2 million, due to a slowdown in trade services, translation losses on euro-dollar denominated inter-company loan to a subsidiary, as well as start-up costs of new logistic hubs.
This came on the back of revenue plunging 59 per cent to S$1.87 billion due to lower commodity trading volume and a significant fall in commodity prices.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US: Wall St opens sharply higher on soft jobs data
HSBC has no plans to dispose of further businesses, chairman says
Glencore Group nears deal for Shell’s Singapore oil refinery
Chinese share of French EV market slumps after incentives curbed
ARA H-Trust Q1 net property income up marginally to US$6.4 million
JPMorgan unveils IndexGPT in next Wall Street bid to tap AI boom