Earnings of iron-ore producer Southern Alliance Mining (SAM) plummeted 30% to RM62.1 million ($20.5 million) in FY2020 ended July 31, from the RM88.2 million posted a year ago. The dip follows a surge in tax expenses to RM24.9 million.
The latest results is a first for the company which went public at 26 cents a share on June 26.
