Sing Holdings warns of losses in Q1

SINGAPORE - Developer Sing Holdings has warned of a loss for the first quarter, following a preliminary assessment of its financial statements for the three months ended March 31.

"The loss is primarily due to higher sales and marketing expenses incurred for the group's development properties, without corresponding revenue recognition from sales of units in Waterwoods in accordance with accounting standards," it said in a statement on May 4.

Further details of the group's financial performance will be disclosed when Sing Holdings announces its results later.