Monday, 25 August 2014

Tanjung Offshore posts pre-tax loss of RM909,000 in Q2

Tanjung Offshore Bhd reported a pre-tax loss of RM909,000 for the second quarter ended June 30, 2014, compared with a pre-tax profit of RM6.21 million in the same period a year ago.

Revenue declined to RM34.55 million from RM81.81 million in the same quarter previously, due to completion of various engineering equipment contracts in the early part of this year, the company said in a filing to Bursa Malaysia.

Tanjung Offshore is optimistic on the prospects of the oil and gas industry in Malaysia and the region by penetrating into niche areas within the sector for growth with a wider range of products and services in the near future. – Bernama