» SPACKMAN ENTERTAINMENT: Profit warning that the company will report a loss for FY 2014.
This should not surprise investors who had seen that its 9M bottomline was already in the red to the tune of US$5.9 million. Most of that (US$5.0 million) was incurred in 3Q2014.
Spackman Entertainment was listed in July 2014. Chart: Yahoo!The company recently said of its impending FY2014 loss: "The net loss is mainly due to weak ticket sales for the films produced and invested by our Group as well as the significant one-off listing expenses incurred during the initial public offering exercise, which was completed in July 2014.
"As the Company transitioned to a public listed company, the Group also incurred higher operating expenses during FY2014, which were mainly attributed to an increase in employee headcount, travelling expenses and compliance costs. In addition, the Group also incurred development expenses for the Group's future slate of films."
» HIAP HOE LIMITED said: "The Company is expected to record a net loss for 4Q2014, but will still maintain a profitable position for the full year ended 31 December 2014."
Hiap Hoe owns two hotels in Zhongshan Park in the Balestier area. NextInsight file photo.The company's expected loss would mainly be attributable to:
1. Agent sales commissions on sold units for Marina Tower, a residential property at Melbourne which forms part of the mix-development project
2. Qualifying certificate extension charges for Treasure On Balmoral
3. Impairment loss for Treasure On Balmoral
4. Foreign exchange loss
5. Fair value loss on investment in Ley Choon Group Holdings
6. Property taxes
Hi-P will yet ride on the success of YotaPhone 2 as its OEM and ODM. The Russian phone is being launched in various countries and regions. » HI-P INTERNATIONAL: On 3 November 2014, the company had guided: 'The Group expects higher revenue in 4Q2014 as compared to 4Q2013. The Group expects to be profitable in 4Q2014.'Now, based on a preliminary review of the unaudited results for year 2014, the company guided thus: Lower revenue in 4Q2014 as compared to 4Q2013, but higher revenue in 4Q2014 as compared to 3Q2014.
"The variance between our previous forecast and the unaudited actual revenue in 4Q2014 was mainly due to demand drop from certain customers and lower than forecasted yields on certain new products during the production ramp-up.
"Despite the lower revenue, the Group is profitable in 4Q2014 as previously guided."
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