SCOMI Group Bhd expects the proposed acquisition of a 70.9% stake in OilTools International to boost Scomi's earnings by 50% for the financial year ending Dec 31, 2004, said a company spokesman.
OilTools generated US$116.9mil in revenue for its financial year ended June 2003, and an operating gross profit of US$19.2mil. It, however, posted a net loss of US$9mil for that year due to a large provision on its investment.
Already a subscriber? Log in
The Star 6.6 DEAL: 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
