GKE fell into the red in the second quarter, with a net loss of $558,000 against a net profit of $367,000 previously.
Revenue for the three months ended Nov 30 was up 45.3 per cent at $11.9 million, mainly attributed to higher revenue contribution from Marquis Services and from the infrastructural materials and services segment.
Revenue for the infrastructural materials and services segment was contributed by its wholly owned ready-mixed concrete manufacturing plant, Wuzhou Xing Jian Readymix, which commenced commercial production in June last year.
Loss per share amounted to 0.09 cent compared with 0.06 cent previously, while net asset value per share eased to 12.55 cents compared with 13.43 cents as at May 31.
GKE said rising costs, intensifying competition and lacklustre business sentiment are expected to have an adverse impact on the operating performance of the group.
CNMC Goldmine Holdings
CNMC Goldmine Holdings yesterday sounded a profit warning. It said it expects to report a net loss for the three months ended Dec 31.
This fourth-quarter loss was mainly due to:
•Net unrealised foreign exchange losses as a result of the depreciation of the Malaysian ringgit against the US dollar; and
•A decline in revenue as a result of lower ore grades.
Despite this loss, the group expects to be profitable for the full year.
Shareholders of YuuZoo overwhelmingly voted against giving executive chairman Thomas Zilliacus stock options at a discount.
During a special general meeting held on Thursday, some 92.47 per cent of voting shares quashed the proposal, which would have allowed Mr Zilliacus to grant options for up to 1.5 million shares in the company, at an exercise price that would represent up to 20 per cent discount to the market price.
Mr Zilliacus and other major shareholders abstained from the vote, so his fate was determined by minority shareholders.