Oil firm Rex's losses deepen to US$8.15m in Q1

Singapore

WEIGHED down by foreign exchange losses, higher administrative expenses and losses from jointly controlled entities, Rex International Holding's net loss deepened to US$8.15 million for the first quarter ended March 31, 2015, compared to a net loss of US$2.54 million in the year-ago period.

Over the same period, the oil exploration and production firm recorded revenues of US$2.07 million. No revenue was recorded in the year-ago period as the group was mainly involved in exploration and drilling activities.