8I Holdings Limited Revises Earnings Guidance for the Half Year of 2019
November 27, 2018 at 10:56 pm EST
8I Holdings Limited revised earnings guidance for the half year of 2019. For the period the company revised its expected net loss to be in the range of SGD 8 million to SGD 9 million on expected revenue of approximately SGD 9 million to SGD 10 million. The expected loss is mainly attributable to the reduction in the valuation of the company's mark-to-market investments in quoted securities. This resulted in an unrealized fair value loss on investment securities of approximately SGD 8 million to SGD 9 million due to market correction.