TH Heavy net loss widens in Q2

The Star Malaysia - StarBiz - - News -

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

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