TH Heavy net loss widens in Q2
KUALA LUMPUR: TH Heavy Engineering Bhd posted a higher net loss of RM89.48mil in the second quarter ended June 30, 2018 compared with a net loss of RM16.79mil in the corresponding period a year ago.
Revenue fell to RM143,000 from RM2.38mil previously.
The group said the decrease in revenue was due to lower fabrication activities during the quarter.
On prospects, TH Heavy said the group had expanded into shipbuilding activities and planned to venture into the refurbishment and maintenance works as well as nonoil and gas-related fabrication.
“These activities are expected to provide a more stable and recurring income to the group,” it said. — Bernama