Challenging times seen

KUCHING: SIG Gases Bhd says the country’s overall industrial environment may be challenging this year due to the implementation of the Goods and Services Tax, anticipated cutting back in capital expenditure in the oil and gas sector, the government’s austerity measures and anticipated inflationary consumer prices.

The group, which has industrial gases’ manufacturing and refilling facilities in Bintulu, posted lower group net profit of RM872,000 in first quarter ended March 31, 2015, down from RM1.7mil in the previous corresponding period although revenue improved to RM16.3mil from RM15.8mil.