Home Capital Results

Golden Agri narrows 9M losses by 43.8% to $62.1 mil

Samantha Chiew
Samantha Chiew11/14/2019 11:31 AM GMT+08  • 3 min read
Golden Agri narrows 9M losses by 43.8% to $62.1 mil
SINGAPORE (Nov 14): Golden Agri-Resources has managed to narrow its losses in 9M19 to US$45.6 million ($62.1 million), from US$81.1 million in 9M18.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Nov 14): Golden Agri-Resources has managed to narrow its losses in 9M19 to US$45.6 million ($62.1 million), from US$81.1 million in 9M18.

The improvement was led by foreign exchange gains and gains from changes in fair value of biological assets.

During the period, the group recorded foreign exchange gains of US$23.9 million, compared to a loss of US$45.8 million in the previous year, mainly attributable to the translation gain on net monetary assets as Indonesian Rupiah strengthened against USD during the current period, and fair value gain on forward foreign currency contracts entered to hedge the currency exposure.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now