(MHB) posted a net loss of RM104.35mil in the first quarter ended March 31 against a net profit of RM6.13mil in the same period a year ago.
The lower earnings was mainly due to operating losses recorded by both its marine and heavy engineering segments.
Its revenue in the first quarter fell to RM343.57mil from RM346.43mil last year mainly due to lower revenue in the marine segment partially offset with the higher revenue from the heavy engineering segment.
The heavy engineering segment posted a higher revenue of RM304.2mil against RM226.8mil reported in the corresponding quarter mainly due to increased activities in ongoing projects.