MTQ CORPORATION'S stock price is at a year-low of 63.5 cents after it posted a net loss of S$2.3 million for 1QFY2016 due to weaker demand for oilfield engineering services in Singapore, coupled with the impact of a weaker Australian dollar.

400 Kuah Boon Wee 3Group CEO Kuah Boon Wee. NextInsight file photo“This is a challenging environment but I am confident of what we are doing. We just have to wait for better markets,” said Group CEO Kuah Boon Wee during a teleconference with analysts yesterday (Wed).

The Group’s balance sheet remains strong with S$41.2 million in cash and net gearing of 11.4%. Its borrowings were reduced from S$60.4 million as at 30 June 2014 to S$58.5 million as at 30 June 2015.

“The number one priority now is to look for revenue growth opportunities,” added Mr Kuah.

Revenue had declined by 22% to S$610.0 million. Gross margin declined to 26%, compared to 34% a year ago.

“Neptune Marine Services has expanded on its revenue opportunities in the Middle East. We are also looking to expand in downstream maintenance work, an area that is benefiting from lower feed prices,” he said.


Share Prices

Counter NameLastChange
AEM Holdings3.7300.080
Avi-Tech Electronics0.275-0.015
Best World1.790-0.010
Broadway Ind0.1190.002
China Sunsine0.410-
DISA0.003-
Food Empire0.6500.030
Fortress Minerals0.345-
Geo Energy Res0.3550.005
Golden Energy0.7750.005
GSS Energy0.047-
InnoTek0.4750.025
ISDN Holdings0.4050.010
ISOTeam0.095-
IX Biopharma0.127-
Jiutian Chemical0.0760.001
KSH Holdings0.355-
Leader Env0.053-0.007
Medtecs Intl0.147-0.001
Meta Health0.0250.001
Nordic Group0.475-
Oxley Holdings0.1450.001
REX International0.2350.005
Riverstone0.6250.025
Sinostar PEC0.191-
Southern Alliance Mining0.405-
Straco Corp.0.405-
Sunpower Group0.255-
The Trendlines0.0940.001
Totm Technologies0.110-0.004
UG Healthcare0.1990.001
Uni-Asia Group0.8150.015
Wilmar Intl4.0900.030
Yangzijiang Shipbldg1.390-0.020

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 1206 guests and no members online