Malaysia’s Sealink International has fallen into the red in the first quarter in tough offshore markets.
The company said the net deficit was MYR 6.2m ($1.52m) to 31 March, from a profit of MYR 2.77m a year ago.
Revenue grew to MYR 55.49m against MYR 34.08m over the same period, but operating expenses were MYR 57.42m versus MYR 23.93m in 2015.
The shipbuilding division recorded revenue of MYR 38.3m,
