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GK Goh reports FY18 net loss of $3.7 mil on investment losses and accounting changes

PC Lee
PC Lee2/26/2019 07:42 PM GMT+08  • 3 min read
GK Goh reports FY18 net loss of $3.7 mil on investment losses and accounting changes
SINGAPORE (Feb 26): GK Goh, the investment holding company, reversed into losses of $9.4 million in 4Q18 from a profit of $8.5 million in 4Q17.
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SINGAPORE (Feb 26): GK Goh, the investment holding company, reversed into losses of $9.4 million in 4Q18 from a profit of $8.5 million in 4Q17.

Various factors contributed to this, in particular the sharp declines seen in major equity markets in the fourth quarter, which led to investment losses of $6.4 million compared to income of $11.2 million in 4Q17.

In addition, both Boardroom and Opal Aged Care Group were affected by a combination of one-time costs and accounting changes. The group’s net loss, excluding these non-recurring items, would have been $2.1 million.

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