SINGAPORE (Sept 5): IPCO International says it is expecting to report a net loss for 1QFY17.

This comes on the back a decline in demand for burn-in boards in the semiconductor industry, and additional safety expenses that were mandated by regulatory authorities for the oil and gas sector.

Further details will be disclosed in the group’s results announcement which will be released before Sept 14.

IPCO advises its shareholders and investors to exercise caution when dealing with its shares.

IPCO was one of the stocks manipulated by Maybank Kim Eng Securities trading representative Lu Hai who was fined S$180,000 and suspended from from trading for six months by Singapore Exchange’s (SGX) disciplinary committee.

(See How (not) to create a false market)

Shares in IPCO closed 50% higher at 0.3 cent on Monday.