Vallianz warns of expected Q2 loss

Catalist-listed Vallianz Holdings said on Monday that it expects to post a net loss for the second quarter ended Sept 30.

In a bourse filing, the group said the losses are due mainly to the decline in profit margins from its chartering business.

Vallianz provides offshore support vessels and offshore marine solutions to the oil and gas industry. The board advised shareholders and potential investors to exercise caution when dealing in the securities of the company.

Vallianz shares closed up 0.11 Singapore cent or 0.94 per cent to S$0.108 before the profit guidance was issued.