Courage Investment (SGX:CIN, HKG:1145) expects an attributable profit of at least $1.6 million in fiscal year 2024, compared with a loss of $4 million, a Feb. 14 filing by the bulk carrier operator with the Hong Kong bourse said.

The firm attributed the anticipated turnaround to profit mainly to a higher profit contribution from the marine transportation operation, a gain on the disposal of a unit, the reversal of an impairment loss, an absence of loss of a JV, and a lower allowance for credit losses on debt instruments at fair value through other comprehensive income.