Posted on 30 Jun 2015
Hiap Teck Records Pre-tax Loss Of RM4.83 Million In Q3
Hiap Teck Venture Bhd reported a pre-tax loss of RM4.83 million for the
third quarter (Q3) ended April 30, 2015, from a pre-tax profit of
RM11.67 million in the same period a year ago.
Revenue however rose to RM335.05 million from RM296.74 million, due to
higher sales volume achieved in the quarter under review, the company
said in a filing to Bursa Malaysia.
It said the steel industry has been operating in a difficult
environment and the recent depreciation of the ringgit against major
currencies further aggravated the challenges faced by the industry.
"However, the group is optimistic that demand for steel products in the
domestic market will remain resilient with the ongoing major
construction projects implemented by the government," it said.
