Forex losses, interest costs in Q1 drag Vard into the red
Singapore
SHIPBUILDER Vard Holdings' bottom line took a hit from foreign exchange losses and higher interest expenses, resulting in a first-quarter net loss attributable to equity-holders of 92 million Norwegian kroner (S$16.4 million), down from a net profit of 92 million kroner in the year-ago period.
For the three months ended March 31, the US dollar strengthened 21 per cent against the Brazilian real and 9 per cent against the Norwegian kroner, resulting in net foreign exchange losses of…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece
Singapore shares open higher on Friday; STI up 0.2%
TSMC estimates losses of US$92.4 million due to Taiwan earthquake
Singapore loses ‘world’s best airport’ crown to Qatar
Higher gross rental income, lower expenses boost CICT’s Q1 NPI by 6.3% to S$293.7 million
Stocks to watch: CICT, Seatrium, Keppel DC Reit, UOB