Pine Capital expects wider half-year net loss on one-off costs

CATALIST-LISTED investment firm Pine Capital, which had recently been in a legal tussle with its former chairman, expects to post a wider net loss for the half-year ended Sept 30.

A "significant" part is due to one-off costs - including increased compliance costs - incurred by the company as part of steps to ready it for resumption of trading, Pine Capital said. 

Trading in Pine Capital shares has been suspended since March.

In addition, the group has been hit by lower revenue as a result of the suspension on its subsidiary, Advance Capital Partners Asset Management, on fundraising activities.