Eversendai swings to a loss in Q4

Eversendai executive chairman and group managing director Tan Sri A K Nathan.

KUALA LUMPUR: Eversendai Corp Bhd posted a net loss of RM193.07mil in the fourth quarter ended Dec 31, 2016 compared with a net profit of RM7.28mil in the same period a year ago.

It said the losses were mainly due to the provision  for doubtful debts and the higher costs resulting from delays in project funding and low  utilisation of the fabrication factory in the oil and gas segment.