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April 3, 2008 |
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TENGGARA OIL: Posts MYR2.89 Mil. Net Loss in Qtr. Ended Jan. 31 Tenggara Oil Berhad posted a net loss of MYR2.89 million on MYR624,000 of revenues in the quarter ended January 31, 2008, as compared with a MYR4.91 million net loss on MYR626,000 of revenues in the same quarter of 2007. As of January 31, 2008, the company's balance sheet showed strained liquidity with MYR3.77 million of current assets available to pay MYR45.49 million of current liabilities coming due within the next twelve months. About Tenggara Oil Tenggara Oil Berhad is undertaking a divestment and restructuring exercise, which will reposition it as a service- oriented and trading group from its current resource-based businesses. Current businesses include investment holding, supply of ready mixed concrete, property holding, management and construction. As part of a corporate revamp exercise, the Company has repositioned itself in the oil and gas business, which will be its core business. The Company is headquartered in Kuala Lumpur, Malaysia. Tenggara is in the process of implementing a debt restructuring scheme with relevant parties. |
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