Hong Leong Asia's net loss widens in Q2

HONG Leong Asia's net loss widened to S$33 million for the second quarter ended June 30, from S$18 million a year ago.

Loss per ordinary share was 8.81 Singapore cents, compared to restated loss per share of 4.81 Singapore cents in Q2 2017.

For the three months ended June 30, revenue rose 6.3 per cent from S$938.5 billion in the year-ago period to S$997.7 billion.

The growth was mainly due to revenue increases from its diesel engines unit, Yuchai, and building materials unit, BMU.

For the first half of 2018, net loss widened to S$38.4 million from 27.8 million a year ago, while revenue increased 1.9 per cent to S$2.02 billion.

Net asset value (NAV) per share edged down to 141.67 Singapore cents as at June 30, from a restated NAV of 164.73 Singapore cents six months ago.

Hong Leong Asia shares finished 0.5 Singapore cent or 0.6 per cent down at S$0.82 on Tuesday before results were out.