Finance costs drag Gallant into the red in Q2

A MORE than doubling of finance costs, from S$15.3 million to S$36.8 million, dragged Gallant Venture into the red in the second quarter despite revenue dipping just one per cent to S$554.3 million.

Gallant Venture, which in May last year acquired 52.35 per cent of PT Indomobil Sukses Internasional Tbk (Imas), yesterday posted a net loss attributable to equity-holders of S$12.1 million for April-June quarter, reversing from …