MMHE yet to turn the corner, needs consistent job replenishment

MMHE recorded a lower core net loss of RM6.7mil in the first quarter ended March 31, 2022 (1Q22) from net loss of RM106.6mil in 4Q21 due to the improved performance of its marine segment as a result of higher dry-docking activities throughout the quarter and higher job completion for its heavy engineering segment’s on-going projects in 4Q21.

PETALING JAYA: Despite Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHE) recent Jerun Central Processing Platform (CPP) contract, Hong Leong Investment Bank (HLIB) Research remains concerned about the prospects of the company as it requires increased work acitivities to breakeven going forward.

MMHE recorded a lower core net loss of RM6.7mil in the first quarter ended March 31, 2022 (1Q22) from net loss of RM106.6mil in 4Q21 due to the improved performance of its marine segment as a result of higher dry-docking activities throughout the quarter and higher job completion for its heavy engineering segment’s on-going projects in 4Q21.