Revenue at the Singapore-listed company declined 9% year-on-year to SGD 29.7m due largely to a fall in earnings at its ship chartering arm.
“For the financial quarter under review, oil prices seem to have stabilized at perceptibly higher levels compared to the previous quarter,” MPM said.
“Without a broad based recovery in sight against the backdrop of a tepid global economy, sentiments and demand for vessels are expected to continue to be adversely impacted with the offshore oil and gas exploration activities in the region remain muted.”
Besides
