Transocean Holdings Bhd. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016
February 23, 2017
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Transocean Holdings Bhd. announced unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company's revenue was MYR 6,147,000 compared to MYR 7,011,000 a year ago. Profit from operations was MYR 376,000 compared to MYR 357,000 a year ago. Profit before taxation was MYR 267,000 compared to MYR 163,000 a year ago. Profit for the period attributable to owners of the company was MYR 79,000 or 0.40 sen per basic share compared to MYR 62,000 a year ago. Increase of profit before taxation mainly derived from year end incentive bonus given to tyre division.
For the year, the company's revenue was MYR 26,354,000 compared to MYR 24,950,000 a year ago. Profit from operations was MYR 1,718,000 compared to MYR 921,000 a year ago. Profit before taxation was MYR 1,167,000 compared to MYR 217,000 a year ago. Profit for the period attributable to owners of the company was MYR 847,000 or 29.84 sen per basic share compared to MYR 88,000 or 1.33 sen per basic share a year ago. Net cash generated from operating activities was MYR 4,449,000 compared to MYR 1,238,000 a year ago. Purchase of plant and equipment was MYR 896,000 compared to MYR 368,000 a year ago.
Transocean Holdings Bhd. is a Malaysia-based transport and logistics company. The Company provides services in the areas of road transport, air and sea freight, warehousing, logistics and customs and forwarding services. The Company's business segments include Logistic solutions, Tyre products and Investment holdings. The Logistic solutions segment is engaged in the provision of custom brokerage, freight forwarding, trucking, international air, ocean freight services, warehousing and depot services. Its Logistic solutions provides services covering Malaysia, Singapore, Thailand and various other countries. The Tyre products segment is engaged in the manufacturing and trading of tyres. The Investment holdings segment is engaged in investment holding, provision of management services and letting of properties. The Company is also involved in providing cloud services and edge computing solution. Its subsidiaries include Transocean (M) Sdn. Bhd. and Usmeta Manufacturing Sdn. Bhd.