Hong Leong Asia says this was mainly due to the drop in gross profit margin for Building Materials Unit (BMU) in a price competitive environment in Singapore and Malaysia.
SINGAPORE (Aug 12): Hong Leong Asia has reported a 2Q net loss of $18.2 million compared to a net loss of $18.3 million a year ago as the operating environment in China and Asia continued to be challenging.
The group’s gross profit was $180.8 million in 2Q17, a decrease of $13.6 million or 7.0%, from $194.4 million in 2Q16. Gross profit margin was 17.6% compared to 19.6% in 2Q16, a decrease of 2.0%.
