For 2Q, the group posted a loss of RM2 billion compared to earnings of $0.3 million in 2Q16.
SINGAPORE (Aug 15): Shipbuilder Nam Cheong has sunk deeper into the red, reporting a loss RM2.1 billion ($670 million) for the half year ended June, compared to a loss of RM37 million in the same period a year ago.
This comes as a result of an assets impairment and write-down of RM2 billion over the period under review – comprising impairment on property, plant and equipment, investment in associate, investment properties, trade and other receivables of RM487.9 million, as well as inventories written down of RM1.51 billion.
