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Tat Hong 1Q losses widen 42% to $5.1 mil

Samantha Chiew
Samantha Chiew8/14/2017 06:48 PM GMT+08  • 2 min read
Tat Hong 1Q losses widen 42% to $5.1 mil
SINGAPORE (Aug 14): Tat Hong Holdings reported 1Q losses widened to $5.1 million in 1Q18 from $3.3 million in 1Q17.
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SINGAPORE (Aug 14): Tat Hong Holdings reported 1Q losses widened to $5.1 million in 1Q18 from $3.3 million in 1Q17.

However, revenue saw a 1% increase to $118.3 million in 1Q18 compared to $116.7 million in 1Q17.

The group’s Crane Rental segment revenue fell 17% to $31.3 million in 1Q18 from $37.6 million in 1Q17, mainly due to lower rental rate in Singapore and lower activity levels in Batam as well as completion of projects in Hong Kong, mitigated by higher crane utilisation rates in Malaysia and Australia.

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