Ocean Vantage slips into the red with net loss of RM7.01m in Q3 FY24

KUALA LUMPUR: Ocean Vantage Holdings Bhd (OVH) posted a net loss of RM7.01 million for the third quarter (Q3) ended September 30, 2024 (FY24) from a n...

KUALA LUMPUR: Ocean Vantage Holdings Bhd posted a net loss of RM7.01 million for the third quarter ended September 30, 2024 from a net profit of RM5.05 million in Q3 FY23.

The sharp revenue reduction was mainly attributed to the nearing completion of the BAGSF 2 project, which significantly reduced contributions from the engineering, procurement, and construction and project management segments. As a result, the group’s gross profit margin for 9M FY24 fell to 2.90%, down from 18.14% in the same period last year.

Total liabilities remained high at RM48.33 million, further straining the group’s financial position.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

theSundaily /  🏆 25. in MY

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eleven Arrested in RM7.2 Million Crypto Investment Scam in MalaysiaEleven individuals were detained in Malaysia in connection with a cryptocurrency investment scheme named Gigamax that caused losses of RM7.2 million. The arrests were made across several states, including Kuala Lumpur, Selangor, and other areas.
Read more »

Sindiket penipuan pelaburan Gigamax libat kerugian RM7.26 juta tumpasDua wanita ditahan termasuk 11 individu lain berhubung skim pelaburan mata wang kripto Gigamax melibatkan jumlah kerugian lebih RM7.26 juta.
Read more »

Petronas invests another RM7.5b in Pengerang Integrated ComplexJOHOR BAHRU: Petroliam Nasional Bhd has made new investments totalling RM7.5 billion at the Pengerang Integrated Complex (PIC) near Kota Tinggi. Johor...
Read more »

RM7 million allocated for feasibility study of Trans-Borneo Railway projectKOTA KINABALU: A total of RM7 million has been allocated for the feasibility study of the Trans-Borneo Railway project, the Sabah State Legislative As...
Read more »

Sindiket jual PR palsu RM7,000 tumpasSindiket pengedaran dan penjualan kad pemastautin tetap (PR) palsu mengaut untung lumayan apabila menjualnya dengan harga RM7,000.
Read more »

SMRT Holdings’ net profits eased 0.82% to RM7.04m for Q1CYBERJAYA: Pure play enterprise Internet of Things (IoT) solutions provider SMRT Holdings Bhd (SHB) posted a net profit of RM7.04 million for the firs...
Read more »