Newly listed car dealer Vin’s Holdings is guiding for a net loss for the 1HFY2025 ended June 30, compared to the previous financial year.
This is due to a decline in revenue and increase in administrative expenses related to the one-off listing expenses and higher staff costs.
Vin’s Holdings listed on the Catalist board of the Singapore Exchange on April 15, having raised a total of $6 million at 30 cents per share at the close of its application on Apr 11.
Of the net proceeds raised of $4 million, the company says that it will use about $3.2 million for enhancement of IT and services, and the expansion of showrooms, workshops and after-sales services.
The group’s largest revenue contributor is automotive sales and related services.
Shares in Vin’s Holdings closed 1 cent higher, or 3.57% up, at 29 cents on Aug 5.
