SapuraKencana dips into the red

Shahril: ‘Our efforts have now been hardwired to ensure long-term competitiveness.’

Provisions on impairment of its assets main reason for RM1.28bil Q4 net loss

PETALING JAYA: Oil and gas company, SapuraKencana Petroleum Bhd (SapKen) recorded a net loss of RM1.28bil for the fourth quarter ended Jan 31 as compared to a net profit of RM129.1mil a year ago mainly due to provisions on impairment of its assets in the environment of the weak oil price.