August 5, 2008

China Sun Bio-Chem issues profit warning on rising costs

China Sun Bio-Chem Technology, a corn-starch maker has issued a profit warning due to rising raw material costs.

The company, which is listed on the Singapore exchange, said it expects first half profit to fall due to high corn prices and costs from the start up phase of two new corn starch and ethanol businesses.

Production was also suspended after authorities ordered factories to be shut to provide clean air for the Olympics.

The company is expected to release its first half financial results on Aug 7.