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 Holdings2.820-0.120
Avi-Tech Electronics0.2750.015
Best World2.2700.030
Broadway Ind0.089-
China Sunsine0.460-0.010
DISA0.003-
Food Empire0.8850.005
Fortress Minerals0.395-0.055
Geo Energy Res0.3000.005
Golden Energy0.9500.010
GSS Energy0.037-0.005
InnoTek0.480-
ISDN Holdings0.455-0.015
ISOTeam0.0940.009
IX Biopharma0.077-0.006
Jiutian Chemical0.070-
KSH Holdings0.335-
Leader Env0.068-
Medtecs Intl0.1110.007
Meta Health0.022-0.001
Nordic Group0.455-
Oxley Holdings0.141-
REX International0.125-0.012
Riverstone0.5800.050
Sinostar PEC0.160-0.028
Southern Alliance Mining0.595-0.015
Straco Corp.0.450-0.005
Sunpower Group0.3650.005
The Trendlines0.090-0.001
Totm Technologies0.082-0.002
UG Healthcare0.1600.003
Uni-Asia Group1.0200.030
Wilmar Intl4.0900.010
Yangzijiang Shipbldg1.1900.010

NextInsight RSS

rss_2 NextInsight - Latest News

Online Now

We have 565 guests and no members online