Transocean Holdings Bhd. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016
November 22, 2016
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Transocean Holdings Bhd. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported revenue of MYR 6,515,000 compared to MYR 5,994,000 a year ago. Profit from operations was MYR 187,000 compared to MYR 111,000 a year ago. Profit before taxation was MYR 37,000 compared to loss before taxation of MYR 41,000 a year ago. Loss for the period attributable to owners of the company was MYR 17,000 compared to MYR 41,000 a year ago. Basic loss per share was 0.04 sen compared to 0.10 sen a year ago. The increase in Revenue was from logistic division. However, profit attributable to owners of the company improved to MYR 0.302 million derived from gain on sales of Johor Bahru premise.
For the nine months, the company reported revenue of MYR 20,207,000 compared to MYR 17,938,000 a year ago. Profit from operations was MYR 998,000 compared to MYR 750,000 a year ago. Profit before taxation was MYR 581,000 compared to MYR 213,000 a year ago. Profit for the period attributable to owners of the parent company was MYR 449,000 compared to MYR 193,000 a year ago. Basic EPS was 1.09 sen compared to 0.47 sen a year ago. Net cash generated from operating activities was MYR 1,987,000 compared to MYR 1,238,000 a year ago. Purchase of plant and equipment was MYR 566,000 compared to MYR 368,000 a year ago. Net assets per share attributable to owners of the parent at the end of the period were MYR 1.08.
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.