Perstima hit by inflation, slowdown

PETALING JAYA: Perusahaan Sadur Timah Malaysia Bhd (Perstima) says high global inflation and economic slowdown resulted in lower sales of its tinplates in Malaysia and Vietnam.

In a filing with Bursa Malaysia, the company said its revenue for the first quarter ended June 30 fell 46% year-on-year to RM239.2mil due to reduced sales volume coupled with lower selling price.

It sufferd a net loss of RM9.2mil or loss per share of 7.15 sen for the quarter due to the provision of RM8.1mil and unrealised loss of RM7.8mil, coupled with lower sales volume and reduced profit margin in the period.