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Oversea Enterprise fiscal Q3 loss widens 23.3% YOY

Oversea Enterprise Bhd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was a loss of 702,500 ringgits, compared with a loss of 569,750 ringgits in the year-earlier period.

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

The normalized profit margin fell to negative 5.8% from negative 4.8% in the year-earlier period.

Total revenue increased on an annual basis to 12.2 million ringgits from 12.0 million ringgits, and total operating expenses climbed year over year to 13.3 million ringgits from 12.7 million ringgits.

Reported net income totaled a loss of 1.2 million ringgits, or a loss of 1 sen per share, compared to a loss of 1.5 million ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Feb. 19, US$1 was equivalent to 4.22 ringgits.