Tiong Nam sees 60% drop in 1Q net profit

Tiong Nam sees 60% drop in 1Q net profit

The Edge Markets - Malaysia·2019-08-26 18:32

KUALA LUMPUR (Aug 26): Tiong Nam Logistics Holdings Bhd's net profit for its first quarter ended June 30, 2019, dropped 60% to RM1.94 million, from RM4.86 million in the previous year's corresponding quarter, amid losses in the hotel and dormitory segments.

The logistics and property player posted a 3% decline in its quarterly revenue to RM150.03 million from RM155.15 million a year earlier.

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