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8I Holdings expects to post fiscal H1 net loss

8I Holdings Ltd. expects to post a net loss in the range of S$6 million to S$7 million for the fiscal first half ended Sept. 30.

The company expects revenue for the period to come to between S$10 million and S$11 million.

8I attributed the expected loss mainly to the reduction in the valuation of the company's mark-to-market investments in quoted securities. The company noted that the reduction resulted in an unrealized fair value loss on investment securities of approximately S$8 million to S$9 million due to market correction.

As of Oct. 11, US$1 was equivalent to S$1.38.