Transocean Holdings Bhd Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018
November 23, 2018 at 02:42 am EST
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TRTransocean Holdings Bhd announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported revenue of MYR 6,160,000 against MYR 6,667,000 a year ago. Profit from operations was MYR 27,000 against loss of MYR 421,000 a year ago. Loss before taxation was MYR 35,000 against MYR 506,000 a year ago. Loss for the period attributable to owners of the parent was MYR 81,000 against MYR 542,000 a year ago. Basic loss per share was 0.19 sen against 1.32 sen a year ago. Revenue dropped by 8% due to political uncertainty as a result of change of Government from May 9, 2018 General election. Reduced losses was due to abolishment of GST pending implementing goods and service tax as from June 2018,
For the nine months, the company reported revenue of MYR 17,992,000 against MYR 18,671,000 a year ago. Loss from operations was MYR 14,000 against MYR 33,000 a year ago. Loss before taxation was MYR 213,000 against MYR 300,000 a year ago. Loss for the period attributable to owners of the parent was MYR 310,000 against MYR 374,000 a year ago. Basic loss per share was 0.75 sen against 0.91 sen a year ago.
Arka Bhd, formerly 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. Its business segments include Logistic solutions, Tire 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 Tire products segment is engaged in the manufacturing and trading of tires. The Investment holdings segment is engaged in investment holding, provision of management services and letting of properties. It is also involved in providing cloud services and edge computing solution. Its subsidiaries include Transocean (M) Sdn. Bhd. and Usmeta Manufacturing Sdn. Bhd.