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Profit warnings: Dyna-Mac, Changtian, China Yongsheng, Ziwo
PROFIT warnings were announced by a number of Singapore Exchange-listed companies on Thursday.
Offshore engineering company Dyna-Mac Holdings said that it is expected to report a net loss for the fourth quarter and cumulative loss for the full year of 2015, mainly attributable to the impairment of long outstanding receivables.
Adhesive tape, release paper and film seller Changtian Plastic & Chemical Limited said that it is expected to report a loss for 2015, due to an impairment charge recorded under its property, plant and equipment.
Concrete supplier China Yongsheng Limited said that it is expected to report a loss for the financial year ended Dec 31, 2015 mainly due to a substantial drop in sales volume as a result of the continued slowdown in construction activities in the regions the group operates.
Yarn maker Ziwo Holdings said that it is expected to record a significant drop in its revenue and report an operating loss for its fourth quarter due to a slowdown in sales and impairment of trade receivables.