WE Holdings

WE Holdings: 1HFY14 net loss widened to US$4.4m from US$1.1m in 1HFY13, while revenue slumped 8% to US$28.8m, as the company had been affected by the weak global economic climate since the second half of 2012. Gross profit margin slipped 3ppts to 9% due to lower average selling prices on the back of stiffer competition. While on the operating level, expenses rose 37% mainly from one-off items in relation to its fund raising and due diligence work in Myanmar. Group continues it bid to look for new business opportunities outside of its core business. Upcoming, investors are expecting the group to provide updates on its $20m acquisition for a 20% stake in Myanmar cement producer Dragon Cement, after having extended the long-stop date three times to 21 Nov.