Microsoft Word - Otto_ProfitGuidance_1QFY2015

OTTO MARINE LIMITED (UEN : 197902647M)

(Incorporated with limited liability in the Republic of Singapore on 5 September 1979)

PROFIT GUIDANCE FOR THE FINANCIAL PERIOD ENDED 31 MARCH 2015
The Company wishes to issue a profit guidance that the Company and its subsidiaries (collectively referred to as the "Group") is expected to report a net loss for the financial period ended 31 March
2015.
The Company believes that the expected losses in the consolidated losses attributable to owners of the Company for the 3 months ended 31 March 2015 was primarily attributable to the following reasons:
1. Decrease in vessels utilization and lower charter rates amidst the current challenging market conditions particularly for the oil and gas industry;
2. Provision and impairment
The Company has since the beginning of this year taken steps and is continually implementing cost cutting measures across the Group in response to the market conditions.
Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company and, in case of doubt, to seek independent advice from professional or financial advisers.
BY ORDER OF THE BOARD Chong Sieh Jiuan
Chief Financial Officer and Joint Company Secretary
10 May 2015

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