Singamas Container Holdings Limited provided consolidated earnings guidance for the six months ended June 30, 2018. The board of directors of the company announced that, based on preliminary assessment of the unaudited consolidated management accounts of the Group and information currently available to the Board, the Group is currently expected to report a marginal loss for the six months ended 30 June 2018, as compared to the consolidated net profit of $16,597,000 attributable to owners of the company for the same period last year, or the consolidated net profit of $41,452,000 attributable to owners of the company for the year ended 31 December 2017. The expected decline in performance for the six months ended 30 June 2018 is primarily attributable to the increase in material costs, especially corten steel, despite the strong demand in dry freight containers. With intense competition in the market, the Group was not able to pass the entire increased material costs to the customers, which affected the gross profit margin of the Group.