Sino Construction warns of loss

The Group secured less contracts.

Based on a preliminary review of the unaudited financial results of Sino Construction Limited and its subsidiaries for the third quarter and nine months ended 30 September 2012, the Board of Directors announced that the Group expects a loss for 9M2012.

The announcement said this is mainly due to the intense pricing pressure to secure contracts amidst the sluggish economy, resulting in the Group securing less contracts and also projects with lesser contract value than the previous period.

The Group also expects to make allowance for impairment for certain trade debtors with long outstanding debts.

A decline in construction revenue and a net loss for 9M2012 are therefore likely.

Further details of the Group’s financial performance will be announced on or before 14 November 2012.