Kim Heng Offshore & Marine Holdings posted a hefty deficit for the first quarter as its top line shrank while costs grew.
The Thomas Tan-led company reported net loss of SGD 3.12m versus earnings of SGD 344,000 a year earlier.
Revenue slid 13% to SGD 7.42m while cost of revenue jumped 19% to SGD 6.1m, causing gross profit to fall 61% to SGD 1.32m.
