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Heavier impairment on crypto assets to drag OIO into a heavier loss for 1HFY2022

The Edge Singapore
The Edge Singapore • 1 min read
Heavier impairment on crypto assets to drag OIO into a heavier loss for 1HFY2022
For the six months ended June 30 2021, the company reported a loss of $638,632.
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OIO Holdings expects to report a heavier y-o-y loss for its 1HFY2022 ended June, as it had to book more impairment on the value of its crypto assets, amid a wider crash of this market.

For the six months ended June 30 2021, the company reported a loss of $638,632.

The company expects to report on Aug 14.

OIO is previously known as DLF Holdings, which is in engineering.

However, this business is loss making as well, and the company on Aug 1 announced plans to sell it to DLF’s original founder Fan Chee Seng for $5,000 so that it can concentrate on the new business of blockchain and cryptocurrency.

“Shareholders of the company and potential investors are advised to exercise caution when dealing in the shares of the company,” states OIO.

See also: NetLink NBN Trust reports 2HFY2024 DPU of 2.65 cents, up 1.1% y-o-y

OIO shares last traded at 23 cents.

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