SINGAPORE (Aug 12): Hong Leong Asia swung into a 2Q net loss of $18.3 million from a gain of $638,000 a year ago.

Despite registering profits from its Yuchai diesel engines unit and building materials unit, this was not sufficient to offset the loss incurred by Xinfei consumer and home appliances unit.

Revenue fell 15.8% to $994.2 million from a year ago, mainly due to slowing economic growth in China.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook