GHY Culture & Media XJB is expecting a net loss for the 1HYF2023 ended June 30.
The company says this is primarily attributable to foreign exchange loss arising from the appreciation of the Singapore dollar against Chinese renminbi in the first half of this year.
This is mostly from the intercompany balances denominated in Singapore dollars of the entities of the group in the People's Republic of China (PRC) of which the financial statements are prepared in Chinese Renminbi, as the group has significant operations in the PRC.
The company has said in a statement dated July 28, that more details of the group’s financial performance will be disclosed when it announces its 1HFY2023 results, but have not given a definitive date to look forward to.
Shares in GHY closed flat at 37 cents on July 28.
