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Loyz Energy warns of full-year net loss
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."