This was mainly due to lower contribution from Malaysia, which decreased 19.7% in Singapore currency terms due to the lower sales of goods and earned service charge income.
SINGAPORE (Nov 13): DBS is downgrading its recommendation on Courts Asia to “hold” from “buy” previously with a lower target price of 36 cents on weaker outlook for earnings on a tougher credit environment in Malaysia.
On Oct 9, the group announced that its 2Q18 earnings were down 74% to $1.5 million, while revenue decreased 1.4% to $176.5 million.
