Stainless steel products distributor Sin Ghee Huat warns of Q3 loss

Published Fri, Apr 8, 2016 · 09:33 AM

STAINLESS steel products distributor Sin Ghee Huat Corporation said that it is expected to make a loss for its third quarter ended March 31, 2016.

The results will be announced on or before May 15, 2016.

For its half year ended Dec 31, 2015, net profit had more than halved to S$915,000 while revenue fell 7 per cent to S$27.9 million.

This was due to lower selling prices and weak demand, the company had said. Should the economy remain depressed, falling prices for stainless steel might lead to inventory impairments, it said then.

The counter last traded at S$0.22.

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