Sinwa Limited announced after preliminary assessment of the Group's draft unaudited financial results for the full year ended December 31, 2012, that the Group is expected to record a loss in fiscal 2012. The loss in fiscal 2012 was mainly due to losses from the engineering and charter businesses which has been affected by the slowdown in the marine sector, the impairment losses from Nordic International Limited and Yakki International Pte. Limited and the fluctuation in foreign currency especially the depreciation of the United States dollar against the Singapore dollar.