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DGB Asia fiscal Q2 loss widens 31.1% YOY

DGB Asia Bhd. said its normalized net income for the fiscal second quarter ended March 31 came to a loss of 350,000 ringgits, compared with a loss of 266,880 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 90.0% from negative 8.2% in the year-earlier period.

Total revenue fell 88.0% on an annual basis to 389,000 ringgits from 3.2 million ringgits, and total operating expenses declined 74.1% from the prior-year period to 949,000 ringgits from 3.7 million ringgits.

Reported net income totaled a loss of 560,000 ringgits, or a loss of 0 sen per share, compared to a loss of 423,800 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of May 26, US$1 was equivalent to 4.06 ringgits.