The Board of Directors of HSR Global Limited announced that the Group is expected to report a consolidated net loss for the first half ended June 30, 2012. The Group expects to report a consolidated net loss for the first half of 2012 compared to a consolidated net profit of approximately SGD 0.3 million for the financial period ended 30 June 2011, mainly due to: impact of the softer property market which has resulted in reduced commission income; increased operating costs arising mainly from higher staff costs including the realignment of executive directors' remuneration to market levels and investment in a new senior manager to spearhead the broadening of the Group's revenue streams; and one-off retrenchment costs incurred in relation to the disposal of the electroplating business of the Group in March 2012.