Malaysia’s Boustead Heavy Industries Corporation (BHIC) posted declines in revenues and earnings during the first quarter of 2019, the company said on 23 May.
BHIC said in a filing to the Bursa Malaysia stock exchange that its revenues in the quarter ended 31 March were MYR36.3 million (USD8.7 million), a year-on-year decline of 9%, and that it recorded pre-tax losses of MYR4 million compared with a profit of MYR5.4 million a year earlier.
BHIC is mainly involved in naval shipbuilding and naval maintenance, repair and overhaul (MRO) but also has capabilities in defence electronics, military aerospace, naval training, and weapons MRO.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes