Separately, BHIC said commercial shipbuilding would continue to come under pressure from the low demand for ships, tonnage overcapacity, tight financing, low oil prices and the uncertain global economic outlook.
Loss per share was 7.66 sen compared with earnings per share of 3.39 sen a year ago. Its revenue increased by 3.1% to RM62.99mil from RM61.09mil a year ago, mainly due to the defence-related MRO activities.
However, the joint-venture companies accounted for lower contribution mainly due to unrealised foreign exchange (forex) loss arising from the balance of Euros in the foreign currency bank account of a JV company and its outstanding trade receivables versus a year ago.
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