Sin Heng Chan (Malaya) Berhad said its normalized net income for the first quarter came to a loss of 721,880 ringgits, compared with a loss of 1.2 million ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin rose to negative 21.2% from negative 35.7% in the year-earlier period.

Total revenue fell year over year to 3.4 million ringgits from 3.5 million ringgits, and total operating expenses fell 22.7% on an annual basis to 3.8 million ringgits from 4.9 million ringgits.

Reported net income came to a loss of 1.1 million ringgits, or a loss of 1 sen per share, compared to a loss of 1.9 million ringgits, or a loss of 2 sen per share, in the prior-year period.

As of May 27, US$1 was equivalent to 4.08 ringgits.