SINGAPORE (Aug 13): Rex International reported earnings of US$23.6 million ($32.7 million), or 1.83 US cents per share, for the 2Q19 ended June, reversing from the net loss of US$2.7 million in 2Q18 a year ago.

This was the result of a surge in other income to US$29.4 million from US$90,000 last year, which was mainly due to a gain from sales of interests in licences to a third party.

For 2Q19, the Catalist-listed oilfield services did not record any service revenue, compared to a revenue of US$90,000 in 2Q18 which came from technical services rendered to external clients by its subsidiary Rex Technology Management.

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