The Board of Directors of PS Group Holdings Ltd. announced that based on a preliminary review of the management accounts of the Group, the Group is expected to report a net loss for the financial year ending December 31, 2015. The net loss for fiscal year 2015 that is expected is mainly due to the (i) write-down of inventories; (ii) the downward pressures on margins resulting from the strengthening of the USD against the Singapore dollar, which is the Group's functional and reporting currency; (iii) competitive markets amid economic uncertainty; as well as (iv) negative contribution from the newly incorporated 90%-owned subsidiary, PS Components Pte. Ltd. due to start-up costs that were incurred during the year.
PS Group Holdings Ltd.
Equities
PSGH
SG2F90994508
Industrial Machinery & Equipment
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