Ocean Sky International warns of fiscal 2018 net loss

CIVIL engineering company Ocean Sky International expects to report a net loss for the financial year ended Dec 31, 2018, based on a preliminary assessment of unaudited financial results, the group said in a regulatory filing late on Wednesday after the market closed.

This is mainly due to the recognition of an impairment of goodwill for fiscal 2018, and the absence of an one-off gain in relation to the disposal of the investment property in Cambodia for the previous financial year, partially offset by professional expenses.

It added that further details of the group's performance will be furnished when it announces its unaudited results for the fiscal year on or before March 1.

Shares for the company dropped 0.1 Singapore cent or 2.27 per cent to 4.3 cents apiece as at 10am on Thursday, from a closing price of 4.4 cents on Wednesday.