Corporate digest

Nam Cheong

THE Malaysian shipping firm plunged to the red with a net loss of RM2.02 billion (S$640 million) for its second quarter ended June 30, against a profit of RM3.04 million a year ago, mainly due to assets impairment and written down of RM2 billion.

Revenue went up 29 per cent to RM151.25 million, due to the sale and delivery of two vessels, and the addition of three vessels to the chartering fleet.