SINGAPORE : Jiutian Chemical Group has issued a profit warning.

In a stock exchange filing on Tuesday, the Singapore-listed firm said it expects to report a loss of not more than 4 million yuan for the third quarter.

Jiutian said it was forced to cut down on production at one of its plants because of the high costs of methanol, a key feedstock used in its production process.

The bottomline was also hurt by a tax charge on its subsidiary unit Anyang Jiutian Fine Chemical. - CNA/ms