Miyoshi guides for loss in FY2019 compared with year-ago profit
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Sharanya Pillai
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ELECTRONIC components manufacturer Miyoshi expects to report a loss for FY2019 ended August, as opposed to its S$1.3 million net profit the previous year.
In a bourse filing on Friday, Miyoshi said that the loss is mainly due to its Thailand and Malaysia subsidiaries being in the red.
The company is also recognising impairment losses after a review of its receivables, and an impairment test related to its associate, Core Power (Fujian) New Energy Automobile.
Miyoshi will announce its full-year results on or before Oct 30.
Shares of Miyoshi closed flat at S$0.035 on Friday.
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