Shinvest Holding flags first half-year loss

PRECISION manufacturer Shinvest Holding expects to report a net loss for the first half of fiscal 2019, based on a preliminary assessment of the group's unaudited financial results for the year ended Aug 31, 2019, the group said in a bourse filing on Friday.

The company blamed the expected loss on the disposal of its entire 57.48 per cent equity interest in GD Tech H K, the need for more provision accounts receivable under the SFRS 9 (I) implemented this financial year, and the slowing economy from the on-going US-China trade war.

Shinvest said more details of the group's performance will be provided when it announces its unaudited financial results for the first half year on or about April 14.

Shinvest Holding shares last traded flat at S$0.80 apiece on Thursday.