PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHE) net loss in the financial year ended Dec 31,2020 (FY20) widened to RM396.81mil as compared to a net loss of RM34.22mil a year ago on the back of an impairment loss on property, plant and equipment and right-of-use assets.
“The impairment loss was recognised in view of the current oil and gas downturn and the expected prolonged recovery of the industry, ” it said in a statement.
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