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LNG carrier repair company reports financial results

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LNG Industry,

Malaysia Marine and Heavy Engineering Holdings Berhad (MHB or Group) wishes to announce its financial results for the six months period ended 30 June 2020. For said period, the Group achieved revenue of RM501.7 million with a pre-tax loss of RM394.6 million, which was mainly attributed to an impairment loss on property, plant and equipment and right-of-use assets amounting to RM300.0 million. The impairment loss was recognised in light of the current oil and gas downturn and the expected prolonged recovery of the industry.

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