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Provider: Thomson Reuters Stock Report
Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Thomson Reuters Stock Report

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Sino Construction Ltd Comments On FY 2012 Earnings Guidance

Tuesday, 23 Apr 2013 05:43am EDT 

Sino Construction Ltd announced that the Group expects a loss for fiscal 2012 due to intense competition amongst construction industry players to secure contracts amidst the slow down in the domestic economy following a decline in GDP growth and also additional property cooling measures introduced by the Chinese government, resulting in the Group securing contracts with lesser contract value as compared to fiscal 2011. The Group expects construction revenue to decline significantly as a result; Impairment for long outstanding debts which is mainly due from a customer from Daqing municipal government statutory board, as the likelihood of recovering these debts amount to about RMB228.2 million as at December 31, 2012 owing by this customer is uncertain, both in terms of the timing and the level of repayment; Non-current assets are expected to be significantly impaired due to increased losses arising from actual revenue being far less than forecasted. 

Company Quote

-0.0050 -1.72%
21 Oct 2014