Project and production costs surged 75.9% to $21.2 million, mainly due to higher fabrication and installation costs as well as provision made for foreseeable losses. Consequently, total operating expenses increased 54.1% to $29.1 million for FY16.
SINGAPORE (March 9): OCBC Investment Research is ceasing coverage on firearms-training facilities provider Starburst Holdings due to lack of market liquidity.
This comes after Starburst saw its net loss widen seven-fold to $11.7 million for the full year ended Dec 31. This was mainly due to delays at its Marina One architectural steel project.
