Vallianz Holdings has warned investors that it is likely to report a “significant net loss” for the first quarter of 2017.
The Singapore-listed offshore vessel operator said this was mainly attributable to non-cash impairment expenses.
“Th e group has completed an in-depth evaluation of the carrying value of certain of its assets that comprise goodwill, fixed assets and investments, in light of the current slowdown in the offshore and marine market and the rightsizing initiatives that it had undertaken,” it said in a regulatory filing.
