MTD ACPI’s Q1 net loss widens

ALOR STAR: MTD ACPI Engineering Bhd’s net loss for the first quarter ended June 30 widened to RM4.23 million from RM3.86 million in the same quarter last year, attributable to the higher losses from its manufacturing division due to an increase in material costs and other operating expenses, that MTD ACPI Engineering Bhd’s net loss for the first quarter ended June 30 widened to RM4.23 million from RM3.86 million in the same quarter last year, attributable to the higher losses from its manufacturing division due to an increase in material costs and other operating expenses, that includes adjustments.includes adjustments.

Revenue for the period rose 7.14% to RM54.79 million from RM51.14 million in the corresponding quarter of the previous year due to higher billings from construction division.

“The group expects the operating environment to continue to be very challenging and competitive. The management will continue to relentlessly seek for construction and manufacturing projects to replenish its order book. With its vast experience, competitiveness and track record in the construction segment, the management is confident of its capability for opportunities presented in the government’s plans to review all mega infrastructure projects that are currently in planning stage and to promote transparency through an open tender exercise in future contract awards,” its board of directors said on its prospects.