Jaya in the red for FY14

Singapore

JAYA Holdings (Jaya), which recently completed the sale of its assets, yesterday posted a full-year loss of US$13.8 million for the 2014 financial year, compared to the US$46.1 million made last year.

However, Jaya's profit from discontinued operations before taxation for the year was US$48.4 million, 6.6 per cent higher than the US$45.4 million the year before. The group reported that its loss from the disposal of subsidiaries was US$60.8 million, contributing to its net loss position for the year. Jaya had sold all its assets for its offshore & marine business to Mermaid Marine earlier this year for S$625 million with the sale completed in June.