HSR Global Limited provided consolidated earnings guidance for the six month ended June 30, 2013. For the period, the company expected to report a consolidated net loss. The consolidated net loss is expected to be greater than the consolidated net loss of approximately SGD 0.87 million for the corresponding six-month financial period ended June 30, 2012, mainly due to the reasons as follows: Reduced commission income from the resale segment mainly attributable to the various rounds of property cooling measures introduced by the Government of Singapore; Losses from the new business units established in the second half of the financial year ended December 31, 2012; Increase in provision for doubtful debts mainly related to outstanding sum due from developers for local projects; Provision for legal fees relating to an investment sales project; and Compensation in the form of salary in lieu of notice paid mainly to the former Chief Executive Officer and Chief Operating Officer of the Company pursuant to their departure.
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- HSR Global Limited Provides Consolidated Earnings Guidance for the Six Month Ended June 30, 2013