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MMHE sees continued O&G slump, further under-use of assets

Group reports second-quarter loss of RM2.6 million and revenue of RM297 million

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Published Mon, Aug 1, 2016 · 09:50 PM

Kuala Lumpur

MALAYSIA Marine and Heavy Engineering Holdings Bhd (MMHE) expects the slump in upstream oil and gas (O&G) to persist for at least the next 12 months and sees further under-utilisation of assets.

The caution came amid its posting of a loss for its second quarter to end- June of RM2.6 million (S$866,000) on the back of revenue of RM297 million.

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