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GKE Corp expects Q2 net loss

LOGISTICS firm GKE Corporation on Friday said that the group expects a net loss for its fiscal second quarter ended Nov 30, 2016.

The expected net loss is due mainly to the operating losses for its ready-mix concrete plant in Wuzhou, China; the significantly lower charter rates for its liquefied gas carrier vessel; and the lower profit contribution from its warehousing and logistics business division after a sale and leaseback of one property and the ongoing redevelopment of a warehouse.