Mainboard-listed property developer Ying Li International Real Estate has issued a profit warning for its performance for the first half of the year ending June 30.
The firm said that it expects an increase on its expenses after issuing convertible bonds worth S$200 million.
The residential and commercial developer expects to record lower sales from the San Ya Wan phase one development largely due to market timing factors.
Ying Li believes it will generate a net loss for the first quarter of 2010, compared to the RMB14,000 or S$2,812.73 net profit in the same period last year.
The company also expects to record a net loss in H2 ending June 30.
However, it remains optimistic and said it expects to record an overall profitable result in this financial year.