Chemicals company Megachem has reported revenue of $105.2 million for the year ended Dec 31 2020, down 7.5% from the preceding year, as demand for certain products fell amid the pandemic.
However, the company enjoyed other income of $1.9 million, which consists of government grants, fair value gain from quoted securities and higher earnings from associates. As a result, the company was able to report earnings of $5.2 million, up 32% y-o-y.
“Despite the COVID-19 pandemic greatly affecting global economies and many businesses, we turned in a creditable performance,” says managing director Sidney Chew.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
