MMHE posts net loss of RM134mil for FY16

MMHE's Dry Dock at its yard in Pasir Gudang Johor

PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) fell into the red for the financial year ended Dec 31, 2016, posting a net loss of RM134.3mil.

The group said that the losses were mainly due to lower contributions from the heavy engineering segment, net foreign-exchange losses compared to gains in the previous year, and the impact from the recognition of a higher impairment on assets in the current year.