Pan Malaysia Holdings Bhd. said its second-quarter normalized net income came to a loss of 123,750 ringgits, compared with a loss of 696,250 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 increased to negative 5.6% from negative 27.5% in the year-earlier period.

Total revenue declined 13.2% on an annual basis to 2.2 million ringgits from 2.5 million ringgits, and total operating expenses rose from the prior-year period to 2.0 million ringgits from 2.0 million ringgits.

Reported net income totaled a loss of 198,000 ringgits, or a loss of 0 sen per share, compared to a loss of 1.1 million ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Aug. 20, US$1 was equivalent to 4.12 ringgits.