Tat Hong warns of Q3 loss

CRANES and heavy equipment supplier Tat Hong Holdings said on Wednesday it expects to report a loss for its third quarter ended Dec 31, 2015.

This estimation is based on a preliminary review of its consolidated unaudited results, the group said in an announcement to Singapore Exchange.

The loss is primarily attributable to costs and provisions associated with exiting the excavator distribution business in Indonesia, weak performance from its Australian operations as well as foreign-exchange losses, it added.

The group will disclose further details of its losses through its unaudited financial statements for Q3 FY2016, to be released on or around Feb 12.

Tat Hong closed Wednesday trading at 48 Singapore cents, down half a cent, before its latest announcement.