![[Update] GSS Energy guides for net loss in FY2022](https://edgemarkets-transferred.s3-ap-southeast-1.amazonaws.com/gss%20energy.jpg?sGiJjkBW_uRorreUXnSVmOQKek9E7lY_)
GSS Energy has guided that it will report a net loss for the FY2022 ended Dec 31, 2022.
The net loss stems from an impairment made in relation to the group’s investment in GSS Energy Trembul Limited (GETL) and the amount due from GETL.
GSS Energy previously announced, on Dec 28, 2022, that PT Pertamina had terminated the co-operative agreement for the Trembul operating area with PT Sarana GSS Trembul (PT SGT).
“PT SGT and Oakhurst Investments Pte Ltd are still in the midst of appealing against this termination, but were unable to successfully obtain an appeal by Dec 31, 2022,” says GSS Energy.
The group is expected to release its results on March 1.
Shares in GSS Energy closed flat at 4.8 cents on Jan 30.
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Update
The company has sought the approval of SGX-RegCo to release its results on March 15 for the FY2022 instead. The approval, which was confirmed on March 10, was in relation to the extension of the deadline for GSS Energy to release its results. GSS Energy was supposed to release its results on March 1.
In a bourse filing, GSS Energy confirmed that the extension will not contradict any of its laws and regulations.
