Pacific Star warns of net loss for Q1 FY20

Singapore

PACIFIC Star Development has flagged that it expects to report a net loss for the first quarter ended Sept 30, citing tough market conditions and higher finance costs.

In a filing early Sunday morning, it said the losses were incurred mainly as a result of challenging market conditions which impacted the sales of Puteri Cove Residences in Malaysia, and higher finance costs associated with a S$70 million facility obtained from a group of third parties in the second quarter of FY19.