Malaysia’s Coastal Contracts has logged lower earnings in the first three months of 2016.
The shipbuilder said it made MYR 16.4m ($4m) on a net basis, from MYR 65.9m in the same period of 2015.
Revenue fell to MYR 198.7m against MYR 351m a year ago, when it was boosted by the timing of a higher number of vessel deliveries.
In March, the company announced a rare order for offshore newbuildings despite very challenging markets.
It
