Sunwah International Limited (SWH.TO: Quote), an Asian based financial services firm, late Friday reported that its fourth-quarter net loss attributable to the owners of the company was $7 million, wider than last year's $4.7 million. Basic loss per share was $0.0760, compared to $0.0525 a year ago.
Revenue was $0.3 million, sharply lower than $1.7 million generated in the prior year.
Further, the company said it did not declare any final dividend to shareholders in fiscal 2012 taking into account the operating cash flow requirements of the company and the cash dividend received and receivable from SWK, its primary operating subsidiary.
Looking ahead for fiscal 2013, the company said it believes that China will continue to be a major factor in any growth in the global economy and that it continues its focus on natural resources - in particular mining and energy - and should benefit from China's continuing growth.
"We believe that the flow of investment capital from Europe (both Western and Eastern Europe), North America and the Middle East towards Asia will increase, particularly in China and South East Asia. The Group continues to position itself as a financial services provider participating in these flows of capital. FY2013 will be a difficult year for investors as capital markets worldwide (including Hong Kong) adjust to the issues arising from the European Union and the United States referred to above and to a slowing of the growth of the Chinese economy," the company said in its statement.
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by RTT Staff Writer
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