UNI-ASIA Group, which invests in cargo ships and real estate, expects to report a net loss for H1 2020 ended June, the Mainboard-listed company announced in a Thursday bourse filing.
The loss is arising from the impact of Covid-19 on its business, it said. It will disclose further details in its financial results on Aug 14. In March, KGI Securities downgraded its call on Uni-Asia to"neutral" and halved its target price on the counter to S$0.62. It expects that the group's business will be"hurt on all sides" due to the Covid-19 outbreak and a weaker overall macroenvironment.
"The disruption to the global supply chain, drop in demand for shipping and the significant decline in tourism will have a negative impact on all of Uni-Asia's business segments in 2020. "This is especially true for its businesses in Japan, which contributed 55 to 61 per cent of the group's total income in 2017 and 2018, and represents businesses such as ship finance arrangement, investments and asset management of properties and hotels," KGI Securities had written.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
OUE and Fragrance Group expect net losses for H1 2020TWO property companies - OUE and Fragrance Group - have flagged guidance of losses made in the first six months of this year. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Coronavirus: 'Bubble' a possibility for 2020-21 NBA season, says National Basketball Players' AssociationORLANDO (REUTERS) - National Basketball Players Association executive director Michele Roberts said Tuesday (July 28) that the 'bubble' environment might be necessary for the 2020-21 season to be held.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Pfizer raises 2020 profit forecast on projected recovery in drug salesPfizer Inc reported a 32per cent fall in second-quarter profit on Tuesday due to a dip in demand for some of its drugs from the COVID-19 pandemic ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
NDP 2020: President Halimah lauds Covid-19 front-line workers, including 100 participating in mobile columnSINGAPORE - About 100 workers on the front lines of the Covid-19 fight and providing essential services will be part of the National Day Parade (NDP) mobile column this year as part of a special recognition of their contributions.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
The 2020 Gold RushThe yellow metal – a traditional safe-haven play − has hurtled past the all-time high on a pandemic-led perfect storm. At US$1,958.43 an ounce struck on Tuesday, gold prices have eclipsed September 2011’s record of US$1,920/oz. Next, it seems to be eyeing a key psychological mark − US$2,000/oz. The Business Times highlights five triggers for gold’s spectacular sprint. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Mary Chia foresees fiscal 2020 net loss worseningBEAUTY and wellness company Mary Chia Holdings expects a “significant” increase in its net loss for the full year ended March 31, 2020, compared with the net loss of S$1.4 million recorded for the six months ended Sept 30, 2019. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »