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Tat Hong FY18 losses narrow to $15.9 mil from a year ago

PC Lee
PC Lee5/30/2018 06:29 PM GMT+08  • 2 min read
Tat Hong FY18 losses narrow to $15.9 mil from a year ago
SINGAPORE (May 30): Tat Hong, one of the largest crane rental company in the Asia Pacific region which is in the process of being privatised by controlling shareholder Roland Ng, reported 4Q losses narrowed 81% to $5.6 million from a year ago.
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SINGAPORE (May 30): Tat Hong, one of the largest crane rental company in the Asia Pacific region which is in the process of being privatised by controlling shareholder Roland Ng, reported 4Q losses narrowed 81% to $5.6 million from a year ago.

This was the result of lower pre-tax losses and lower income tax expense arising mainly from over-provisions made for prior years’ taxes and the utilisation of prior years’ tax losses and capital allowances.

4Q revenue rose 8% to $119.3 million. Revenue from crane rental decreased 6% to $28.6 million in 4Q18, due to lower crane utilisation rates in Malaysia, Thailand and Hong Kong as major contracts were nearing completion and while new projects were delayed.

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