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TSH Resources swings to loss in Q3

TSH Resources Bhd. said its third-quarter normalized net income came to a loss of 2 Malaysian sen per share, compared with 1 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 30.7 million ringgits, compared with income of 19.0 million ringgits in the prior-year period.

The normalized profit margin fell to negative 16.9% from 7.7% in the year-earlier period.

Total revenue decreased 26.5% on an annual basis to 181.4 million ringgits from 246.9 million ringgits, and total operating expenses fell 19.2% on an annual basis to 163.9 million ringgits from 202.7 million ringgits.

Reported net income totaled a loss of 48.2 million ringgits, or a loss of 4 sen per share, compared to income of 24.3 million ringgits, or 2 sen per share, in the year-earlier period.

As of Nov. 18, US$1 was equivalent to 4.36 ringgits.