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 Holdings2.2700.050
AusGroup0.052-
Avi-Tech Electronics0.4400.020
Best World Int.1.360-
CEI1.010-
China Sunsine0.4550.010
CNMC GoldMine0.2600.005
CSE Global0.565-0.005
Eagle HTrust USD0.525-0.005
Food Empire0.750-0.015
Golden Energy0.1700.001
GSS Energy0.098-0.005
ISDN Holdings0.1990.001
ISOTeam0.215-
JB Foods0.625-0.010
KSH Holdings0.4000.005
Miyoshi0.0310.004
Moya Asia0.080-0.002
Nordic Group0.300-0.005
Oxley Holdings0.345-
Procurri0.325-0.005
REX International0.200-0.005
Riverstone1.0500.040
Roxy-Pacific0.370-
Sing Holdings0.410-
SingMedical0.3200.015
Straco Corp.0.570-
Sunningdale Tech1.290-0.010
Sunpower Group0.560-
The Trendlines0.1310.001
Tiong Seng0.2000.002
Uni-Asia Group0.690-
Yangzijiang Shipbldg1.0400.020

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 5394 guests and no members online