MMHE narrows losses to RM4.66m in 3Q FY19, cautious on outlook


  • Business Premium
  • Thursday, 24 Oct 2019

MMHE managing director and CEO Wan Mashitah Wan Abdullah Sani said: “Despite improvement in the current quarter performance against the preceding quarter, the short term overall outlook remains uncertain in view of intensifying geopolitical tensions, slowing global economic growth, sluggish oil demand and the ongoing unresolved US-China trade conflict.

KUALA LUMPUR: Malaysia Marine and Heavy Engineering Holdings Bhd (MMHE) narrowed its net losses to RM4.66mil in the third quarter ended Sept 30,2019 from RM22.72mil a year ago but it remained cautious on the outlook due to the volatile geopolitical issues.

It announced on Thursday its revenue was lower at RM254.34mil, down 12.2% from RM289.80mil. Loss per share was 0.29 sen compaed with 1.42 sen.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Business News

CPO futures forecast to trade with downside bias next week Premium
Proposed telco merger outside MyCC's purview, CEO says Premium
Portugal's EDP betting on floating solar farms in Southeast Asia Premium
Oil price rises more than 2% as supply outages outweigh recession fears Premium
Wall St Week Ahead-Investors brace for pivotal July after dismal first half Premium
Thai Airways aims for 2024 completion of restructuring Premium
Labour issues dominate businesses Premium
Education needs to be realigned to meet industry demand Premium
Short Position - Who will helm MPOA next?, Shorter is not better, Large-scale solar mess Premium
GST net collection may not be as high as thought Premium

Others Also Read