Intraco Limited Provides Group Earnings Guidance for the Year Ended 31 December 2020
February 16, 2021 at 05:36 am EST
The board of directors of Intraco Limited announced that based on the preliminary review of the Group's unaudited financial results for the full year ended 31 December 2020, the Group is expected to report a material net loss for full year ended 31 December 2020. The expected net loss for 2020 is mainly attributable to the recognition of: impairment losses arising from its principal subsidiary, K.A. Group Holdings Pte Ltd. (together, with its subsidiaries, the "K.A. Group") and its joint venture in Myanmar, Tat Hong Intraco Pte Ltd; and a loss on disposal from the divestment of the Company's 41.27% stake in Dynamic Colours Limited in July 2020.