When Loyz announced its half time results back in Feb'12, there was no earlier profit guidance at all weeks before it scheduled to announce its money losing positions back then; and I wondered why Loyz can get off so lightly. Loyz is not a s-chip company so it should stop behaving like one.
And now at 12 midnight 23 June, Loyz announced a profit warning for its full year financial results because of :-
"The Group is expecting to report a loss for the Financial Year. The loss is mainly due to higher operating expenses arising from the addition of the oil and gas business and a one-time specific provision for doubtful receivables. The provision is for the refundable deposit due from Empire Holdings Limited."
If Loyz is able to successfully pump out oil in the later part of this year then is it able to fetch high prices on them when oil prices are currently keep falling? Time to re-visit its drawing board in order to re-strategize to avoid falling deeper into the gutter holes it is digging?
And now at 12 midnight 23 June, Loyz announced a profit warning for its full year financial results because of :-
"The Group is expecting to report a loss for the Financial Year. The loss is mainly due to higher operating expenses arising from the addition of the oil and gas business and a one-time specific provision for doubtful receivables. The provision is for the refundable deposit due from Empire Holdings Limited."
If Loyz is able to successfully pump out oil in the later part of this year then is it able to fetch high prices on them when oil prices are currently keep falling? Time to re-visit its drawing board in order to re-strategize to avoid falling deeper into the gutter holes it is digging?
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