SP Corp sees half-year loss as commodity business woes persist

A Brawn GP Formula One pit crew member stacks tyres in the pits of the Singapore F1 Grand Prix at the Marina Bay street circuit. REUTERS

Industrial group SP Corp said it expects to report a loss for the second quarter and half year ended June 30, 2017
Loss due to lower revenue and profit contribution from the commodities trading business, and higher losses incurred by the tyre distribution business: company statement
Commodities trading business contributes nearly 90 percent to group revenue
SP Corp reported a loss after tax of $0.3 million for the first quarter ended March 31
Shares of the company were up 0.7 percent to S$0.735 at 0416 GMT on the Singapore Exchange

Economists raise Singapore's 2017 growth forecast to 3.3%