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Beng Kuang blames vessel engine fault for expected loss

Beng Kuang blames vessel engine fault for expected loss
Singapore’s Beng Kuang Marine is anticipating a loss for its fourth quarter and full year 2015 due to a vessel engine fault and an operating loss from a subsidiary.

Singapore-listed Beng Kuang said “the loss is mainly attributable to the unforeseen main engine breakdown of one of the livestock vessels and an operating loss of a subsidiary in the infrastructure engineering division.”

The statement from Beng Kuang did not share any figure forecast for the expected loss. The financial performance will be disclosed on or before 22 February.

Beng Kuang posted a net profit attributable to owners of the company of SGD287,000 ($205,000) for the first nine months of 2015, as against a loss of SGD4.23m in the previous corresponding period.