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Blumont Group warns of 3Q losses

Amy Tan Published on Mon, Nov 02, 2015 / 6:43 PM GMT+8

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SINGAPORE (Nov 2): Blumont Group says it expects to report losses for 3Q as well as the nine months to September 30.

The expected losses in 3Q and 9M arose primarily from the fair value readjustments of the group’s investments in transferable securities (financial assets), attributable to the recent volatility in the financial markets and global economy.

As reported in the group’s 2Q results announcement, “The group’s investment holding segment and the portfolio of quoted financial assets, available-for-sale, including the portfolio under the mineral and energy resources ties to the changes in the financial market and global economy with uncertainty and volatility in the investment outlook.”