Sinjia Land's negative working capital widens to S$3.03m after two adjustments
SINJIA Land saw its negative working capital widen to S$3.03 million after taking in adjustments proposed by its independent auditor.
The investing holding company that manufactures and sells customised elastomeric and polymeric components said after Thursday's trading hours that some S$2.36 million other receivables relating to the disposal of HLH Rubber Products Ltd were reclassified from current to non-current assets. These proceeds will only be due in 2019, the listed company explained.
Sinjia Land's full-year accumulated losses also widened to S$9.13 million from S$5.80 million after providing for impairment of receivables and investment in subsidiaries.
The listed company took in impairments amounting to some S$2.37 million pertaining to receivables, and S$1.0 million pertaining to investment in subsidiaries in its audited financial statements. It said that its management was unable to ascertain the recoverability of these two amounts.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
US: Wall St opens lower as Meta Platforms, economic data weigh
Sheng Siong Q1 net profit up 9.3% on higher revenue