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MMHE yet to turn the corner, needs consistent job replenishment

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MMHE recorded a lower core net loss of RM6.7mil in the first quarter ended March 31.

MMHE recorded a lower core net loss of RM6.7mil in the first quarter ended March 31, 2022 from net loss of RM106.6mil in 4Q21 due to the improved performance of its marine segment as a result of higher dry-docking activities throughout the quarter and higher job completion for its heavy engineering segment’s on-going projects in 4Q21.

That said, HLIB Research said its core net loss was within its and consensus full-year forecasts. However, the research house said the MMHE would need increased work activity and job replenishments to breakeven. “Also, we do not discount the possibility of further cost overruns or delivery delays for its current projects despite its high orderbook backlog,” he added.

 

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