Tiong Nam Q2 net profit up by nearly three-fold

Moving forward, Tiong Nam expects its core logistics and warehousing services segment to be affected by the global economic slowdown.

PETALING JAYA: Tiong Nam Logistics Holdings Bhd’s net profit in the second quarter ended Sept 30 increased by nearly three-fold despite reduced revenue, thanks to lower operational and finance costs.

The group told Bursa Malaysia that its net profit rose by RM3.69mil in the July-Sept 2020 period as compared to RM1.31mil in the previous corresponding quarter.