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Three engineering companies warn of losses for FY2016
THREE engineering companies in Singapore - CSC Holdings Limited, Metal Component Engineering Limited and SBI Offshore Limited - are expected to report net losses for their financial year ending Dec 31, 2016.
In press statements issued on Monday, CSC Holdings Limited and SBI Offshore Limited said that they would reveal further details when the results were finalised.
According to Metal Component Engineering Limited, which was the only company stating a reason for its net loss, it was "mainly due to costs incurred in connection with the group's exit from the hard disc drive components business segment", which generated reducing margins amidst high capital expenditure and operating costs.
All three companies have advised shareholders and potential investors to seek independent advice from their professional advisors before trading or making any investment decision on the company securities.