Financial Statements and Related Announcement::Profit Guidance

Issuer & Securities

Issuer/ Manager
MIYOSHI LIMITED
Securities
MIYOSHI LIMITED - SG1J04885492 - M03
Stapled Security
No

Announcement Details

Announcement Title
Financial Statements and Related Announcement
Date &Time of Broadcast
18-Oct-2019 21:38:54
Status
New
Announcement Sub Title
Profit Guidance
Announcement Reference
SG191018OTHR77LQ
Submitted By (Co./ Ind. Name)
Sin Kwong Wah Andrew
Designation
CEO
Description (Please provide a detailed description of the event in the box below - Refer to the Online help for the format)
Following a preliminary assessment of the Group's unaudited financial statements for the full year ended 31 August 2019 ("FY2019"), the Board of Directors of Miyoshi Limited (the "Company" or together with its subsidiaries, the "Group") would like to issue a profit guidance that the Group expects to report a loss for FY2019 as compared to the previous financial year. The loss is mainly attributable to the loss-making operations of the Group's subsidiaries in Thailand and Malaysia and impairment losses recognised from (i) the impairment review exercise on Group's receivables and (ii) impairment test in connection with the Group's associated company, Core Power (Fujian) New Energy Automobile Co., Ltd. Any impairment arising from, inter alia, the aforementioned would impact the Group results.

Further details of the Group's financial performance will be disclosed when the Company announces its unaudited full year financial results on or before 30 October 2019.


BY ORDER OF THE BOARD

Andrew Sin Kwong Wah
Executive Director and CEO
18 October 2019

This document has been prepared by the Company and its contents have been reviewed by the Company's sponsor, CIMB Bank Berhad, Singapore Branch ("Sponsor"), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the "SGX-ST"), this being the SGX-ST Listing Manual Section B: Rules of Catalist.

The document has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this document including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Ken Lee, Associate Director, Investment Banking. The contact particulars are 50 Raffles Place, #09-01 Singapore Land Tower, Singapore 048623, telephone (65) 6337 5115.

Additional Details

For Financial Period Ended
31/08/2019

Attachments