Jinwu Financial News | Xiushang Times Holdings (01849) announced that in the year ending June 30, 2023, the group is expected to obtain net losses attributable to company owners of about SGD 1.4 million to SGD 1.8 million, while generating net profit of about S$1.1 million for the same period in 2022.
The net loss was mainly due to an increase in impairment losses under the anticipated credit loss model.