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PROFIT WARNING FOR SECOND QUARTER RESULTS ENDED 30 JUNE 2011
For the Financial Period Ended: 30-06-2011
PROFIT WARNING FOR SECOND QUARTER RESULTS ENDED 30 JUNE 2011
The Board of Directors (the "Board") of RH Petrogas Limited (the "Company") wishes to issue a profit warning regarding the unaudited financial results of the Company and its subsidiaries (the "Group") for the second quarter ended 30 June 2011 (the "Relevant Period"). The Group's results for the Relevant Period is expected to show a loss for the Relevant Period. This is mainly due to an increase in the hedging loss on the crude oil commodity options for the Relevant Period as compared to the first quarter ended 31 March 2011 ("1Q2011"). The commodity options were entered into as part of the requirements of a loan agreement with an international bank, as stated in paragraph 8.3 of the unaudited financial results of the Group for 1Q2011.
Details of the Group's financial performance for the Relevant Period will be disclosed when the Company announces its unaudited consolidated financial statement for the Relevant Period.
BY ORDER OF THE BOARD
Tan Sri Datuk Sir Tiong Hiew King
Executive Chairman
04 August 2011