Ezion widens Q4 loss on increased impairments

Singapore

OILFIELD services provider Ezion Holdings saw its fourth-quarter net loss widen to US$66.61 million, up 4.9 per cent from a year ago, mainly on increased impairment losses tied to projects committed at high oil prices.

Taking into account an enlarged share capital due to new equity issuance, loss per share was 3.3 US cents compared to 4.08 US cents.

The group undertook a series of new equity issuances, which saw its total number of ordinary shares issued expand to over 2.07 billion as at Dec 31, 2016, compared to 1.60 billion a year ago.

Revenue for the quarter ended Dec 31, 2016, was US$72.63 milli…