Grandshores Technology (HKG:1647) expects to post a loss of between SG$500,000 and SG$2 million for the year ended March 31, reversing a SG$2 million profit a year earlier.

The anticipated loss is mainly down to higher staff costs from increased headcount and salaries, and a reduction in government grants, the filing said.

Shares of Grandshores closed about 8% lower on Monday.