Singamas Container Holdings Limited provided consolidated earnings guidance for the six months ending June 30, 2017. Based on preliminary assessment of the unaudited consolidated management accounts of the Group and information currently available to the Board, the group is expected to report a consolidated profit of not less than $12,000,000 for the six months ending 30 June 2017 as compared to a loss of $36,619,000 attributable to the owner of the company for the six months ended 30 June 2016. The expected positive turnaround of the results for the six months ending 30 June 2017 is mainly attributable to, growing container demand as a result from improving global trading activities since the end of 2016, and the increase in the average selling price of new dry freight containers. The policy among industry players in the People's Republic of China to employ waterborne paint starting in April 2017 would necessitate the temporary suspension of certain production lines during conversion. This has also spurred certain shipping companies and leasing operators to place advance orders in the first quarter of 2017 in order to avoid shortage of container supply during production suspension period. Hence, the Group's business performance has improved as a consequence of an increase in the group's turnover and gross profit margin for the six months ending 30 June 2017.