Li Heng reports S$5.7m Q3 loss on soft China economy
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
MAINBOARD-LISTED high-end nylon fibre maker Li Heng Chemical Fibre Technologies reported a net loss of 25.6 million yuan (S$5.7 million) for the three months ended Sep 30, 2015, from a 2.6 million yuan profit a year ago.
Revenue was down 28 per cent to 442.8 million yuan.
The company said average selling prices and sales volume of nylon yarn have dropped due to a soft economy in China and overseas markets.
Li Heng last traded on Monday at 51 Singapore cents, down four cents.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
