Jaya Tiasa sinks deeper into the red in Q3

KUALA LUMPUR: Lower crude palm oil (CPO) prices and a drop in timber production dragged Jaya Tiasa Holdings Bhd deeper into the red in the third quarter.

The Sibu-based company said for the three months ended March 31, net loss widened to RM125.3mil compared with RM48.6mil loss made a year ago.

"Moving forward, the board believes the performance for the next quarter will improve with our stringent control on cost and operational efficiency," it said in a filing with Bursa Malaysia today.

For the nine-month period, net loss swelled to RM184.5mil, or 19 sen a share.

The stock was last traded at 51 sen on Thursday.



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