Falling oil prices continue to bog down Malaysia’s integrated oil and gas (O&G) player SapuraKencana Petroleum Bhd (SapKen), as it took the lower value of its assets to its books.
The company, which has its operations in a wide range of activities within the sector, saw its net profit drop 62.7% to RM129.86mil on the back of a 19.9% increase in revenue to RM2.89bil for the third quarter to Oct 31, 2015.
The lower numbers were primarily due to provisions for impairment on property, plant and equipment and O&G properties of RM317.3mil, which is mainly to reflect the lower price of the commodity.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
The company, which has its operations in a wide range of activities within the sector, saw its net profit drop 62.7% to RM129.86mil on the back of a 19.9% increase in revenue to RM2.89bil for the third quarter to Oct 31, 2015.
The lower numbers were primarily due to provisions for impairment on property, plant and equipment and O&G properties of RM317.3mil, which is mainly to reflect the lower price of the commodity.
For Free Signals and other KLSE online updates, click here OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my
No comments:
Post a Comment