According to the Zhitong Finance App, FSM HOLDINGS (01721) announced that compared with the profit attributable to the company owner of about S$2.1 million in the fiscal year ending December 31, 2022, the Group is expected to obtain losses attributable to company owners of about S$4.4 million to about S$5.4 million as of December 31, 2023 (fiscal year 2023).

According to the announcement, the estimated loss for this year is mainly due to a decrease in market demand in the Singaporean sheet metal manufacturing industry, a drop in sales orders during the period, leading to a decrease in revenue and profit from the Group's manufacturing business; and an increase in the operating and development costs of the Group's online game business.