FSM HOLDINGS (01721) announced the financial year ending December 31, 2022...
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.