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Sinotop Holdings Q2 loss widens YOY

Sinotop Holdings Berhad said its second-quarter normalized net income amounted to a loss of 170,000 ringgits, compared with a loss of 13,750 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 declined to negative 0.4% from negative 0.0% in the year-earlier period.

Total revenue increased 9.0% on an annual basis to 41.7 million ringgits from 38.3 million ringgits, and total operating expenses grew 8.7% on an annual basis to 41.6 million ringgits from 38.3 million ringgits.

Reported net income came to a loss of 272,000 ringgits, or a loss of 0 sen per share, compared to a loss of 66,000 ringgits, or a loss of 0 sen per share, in the prior-year period.

As of Aug. 30, US$1 was equivalent to 4.07 ringgits.