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Sin Heng Chan (Malaya) Q3 loss widens YOY

Sin Heng Chan (Malaya) Berhad said its normalized net income for the third quarter came to a loss of 838,130 ringgits, compared with a loss of 407,500 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 dropped to negative 23.4% from negative 8.3% in the year-earlier period.

Total revenue declined 27.3% on an annual basis to 3.6 million ringgits from 4.9 million ringgits, and total operating expenses decreased 16.4% from the prior-year period to 4.2 million ringgits from 5.0 million ringgits.

Reported net income totaled a loss of 1.7 million ringgits, or a loss of 2 sen per share, compared to a loss of 598,000 ringgits, or a loss of 1 sen per share, in the year-earlier period.

As of Nov. 26, US$1 was equivalent to 4.23 ringgits.