E&O reports RM8.8mil loss in Q3

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

KUALA LUMPUR: Eastern and Oriental Bhd posted a net loss of RM8.8mil for the third quarter ended Dec 31, 2018 from a net profit of RM21.98mil in the same period the previous year.

Revenue fell to RM256.95mil versus RM331.90mil, with the company recording a loss per share of 0.67 sen versus earnings per share of 1.68 sen.