KUALA LUMPUR: RAMUNIA HOLDINGS BHD [] net profit for the first quarter ended Jan 31, 2011 fell to RM1.1 million from RM3.42 million a year earlier due mainly to the tail end of the remaining projects billings and lower operating income.
Its for the quarter revenue slumped to RM1.36 million from RM15.85 million in 2010. Earnings per share was 0.17 sen while net assets per share was 25.1 sen.
Reviewing its results and commenting on its prospects on Thursday, March 24, Ramunia said it was finalising its PN 17 regularisation plan.
'The group continues to actively participate in bids for projects in the oil and gas and engineering businesses continues with focus on the fabrication of offshore oil and gas related structures.
'The group has entered into a sales and purchase agreement to acquire a fabrication yard located at Pulau Indah, to expand its fabrication capacity,' it said.
Ramunia recently said it planned to venture to venture into the offshore oil and gas business in Malaysia and the region via a tie-up with Drydocks World of Dubai.
Its for the quarter revenue slumped to RM1.36 million from RM15.85 million in 2010. Earnings per share was 0.17 sen while net assets per share was 25.1 sen.
Reviewing its results and commenting on its prospects on Thursday, March 24, Ramunia said it was finalising its PN 17 regularisation plan.
'The group continues to actively participate in bids for projects in the oil and gas and engineering businesses continues with focus on the fabrication of offshore oil and gas related structures.
'The group has entered into a sales and purchase agreement to acquire a fabrication yard located at Pulau Indah, to expand its fabrication capacity,' it said.
Ramunia recently said it planned to venture to venture into the offshore oil and gas business in Malaysia and the region via a tie-up with Drydocks World of Dubai.
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