Mongolia Energy (HKG:0276) expects a pre-tax net loss of up to HK$362 million for the year ended March 31, compared with HK$172.5 million a year prior, according to a Wednesday Hong Kong bourse filing.
The coal producer also expects a decline in revenue and gross profit.
The forecast comes about amid a drop in sales volume, as well as the average selling price of clean coking coal.
Singapore shares remained in the green zone on Wednesday, gaining nearly 1% at the close, despite the US and Iran conducting strikes against each other, fueling an uncertain economic outlook to the region.The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,112.86 and 5,150.69 throughout the day. It ended the session at 5,138.24, up 40.82 points or 0.8% compared to Tuesday's close.On the corporate front, shares of Vin's Holdings (SGX:VIN) closed over 7% lower after the company concluded its special investigation audit over irregular transactions linked to a former senior employee and confirmed fraud risk indicators.JustCo's (SGX:JCO) shares were down over 5% at the close as its stabilizing manager, DBS Bank, purchased 642,8000 shares in the company on June 2 between the price range of SG$0.685 and SG$0.765 per share.Meanwhile, Emerging Towns & Cities Singapore (SGX:1C0) secured a key regulatory waiver from the Singapore Exchange Regulation (SGX RegCo) regarding earlier undertakings in connection with a convertible loan agreement with Luo Shandong.
Lite-On Technology (TPE:2301) expects a stronger second half of this year on AI-fueled demand and higher capital spending, Taipei Times reported Wednesday, citing the company's president.The Taiwanese electronics manufacturer targets an earnings per share higher than last year's NT$6.64, company president Anson Chiu reportedly said on the sidelines of a Taipei trade show.AI-related products, including server power and cooling solutions, are expected to make up about 30% of revenue this year, Chiu was quoted as saying.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
Winnovation Culturaltainment Development (SHE:000620), through its units, agreed to fully offload subsidiary Xining Yingxin Real Estate for a total consideration of 100 million yuan, according to a Shenzhen bourse filing on Wednesday.Xipeng Municipal Construction (Jiangsu) will acquire Xining Yingxin Real Estate.Moreover, Winnovation's subsidiary, Changsha Tongguan Kiln Guofeng Amusement Park Culture Tourism, signed an agreement with Xipeng Municipal Construction for the latter to assume Changsha Tongguan Kiln's debt worth 353.3 million yuan.The Chinese cultural tourism company's shares rose 1% at the close.