Increase in exports: MMHE says the outlook for marine business remains positive as global LNG trade is expected to expand firmly driven by increase of exports from the United States and Australia to Asia.
PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd
(MMHE) swung into the red in the financial year ended Dec 31, 2018 due to losses in both its marine and engineering divisions but it was cautious about its outlook due to uncertainties for the oil and gas industry.
MMHE announced net loss of RM122.69mil in FY18 compared with net profit of RM34.22mil in FY17. Its revenue was higher by 1.8% at RM974.35mil compared with RM956.41mil a year ago.
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