Global Invacom expects Shanghai ops closure to incur losses of up to US$10.5m

Singapore

MAINBOARD-LISTED Global Invacom will recognise one-off losses of between US$9.5 million and US$10.5 million in relation to the closure of its Shanghai operations, it said in response to a Singapore Exchange query on Tuesday.

In a FY2019 profit guidance filed with the bourse on Jan 15, it said it would be recognising non-recurring costs due to the cessation of its Shanghai manufacturing operations and subsequent relocation.