Dayang Enterprise sinks into red in 1Q as revenue falls on fewer contracts, lower vessel utilisation
By Reyanna Ng
Dayang Enterprise Holdings Bhd fell into the red in the first quarter ended March 31, 2023 (1QFY2023), posting a net loss of RM15.95 million compared with a net profit of RM13.76 million a year ago.
Revenue for the quarter slumped 29.80% or RM47.72 million to RM112.42 million this quarter, from RM160.14 million in 1QFY2022, due to fewer work contracts being awarded, and lower vessel utilisation, which is typical during the monsoon season.
Source: theedgemalaysia.com
https://theedgemalaysia.com/node/668218