HSR Global Limited provided earnings guidance for the year ended December 31, 2012. The Group is expected to report a consolidated net loss for fiscal year 2012 (compared to a consolidated net profit of approximately SGD 0.47 million for the financial year ended 31 December 2011) mainly due to the reasons as follows: Start-up losses from new business units established in the second half of the financial year to broaden the Group's revenue streams; Impact of the softer property market which has resulted in reduced commission income; Increased operating costs arising mainly from higher staff costs including the realignment of executive directors' remuneration to market levels and investment in a new senior manager to spearhead the broadening of the Group's revenue streams; and One-off retrenchment costs incurred in relation to the disposal of the electroplating business of the Group in March 2012.
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- HSR Global Limited Provides Earnings Guidance for the Year Ended December 31, 2012