KINERGY (03302) issued a profit warning, expecting the net loss for the fiscal year 2024 to increase by approximately 3.6 million Singapore dollars compared to the previous year.

KINERGY (03302) issued an announcement, expecting the Group to incur a post-tax net loss of approximately 3.6 million Singapore dollars for the year ending December 31, 2024, and a post-tax net loss of approximately 0.9 million Singapore dollars for the year ending December 31, 2023. The announcement stated that the expected increase in net loss for the year ending December 31, 2024 is mainly due to (i) a fair value loss on investment securities of approximately 575,000 Singapore dollars for the year ending December 31, 2024, compared to a fair value gain on investment securities of approximately 458.9 million Singapore dollars for the year ending December 31, 2023, and (ii) an income tax expense of approximately 805,000 Singapore dollars for the year ending December 31, 2024, compared to an income tax credit of approximately 93,000 Singapore dollars for the year ending December 31, 2023.