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Loyz Energy warns of full-year net loss

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Published Sun, Jul 12, 2015 · 08:03 AM

Loyz Energy on Saturday said it expects to record a net loss for the fourth quarter, and the fiscal year ended June 30, 2015.

This was mainly attributable to the group accounting for a one-time, non-cash impairment of its investments in both India and US. These non-core assets are expected to be sold.

"Given the current uncertainties surrounding oil prices, the company has decided to take a conservative approach in its assessment of its investments."

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