The net deficit to 31 March was MYR 190.35m ($59.2m), against a loss of MYR 4.19m in the same quarter of 2013.
It said this was due to losses from the disposal of subsidiaries.
Revenue actually improved to MYR 9.33m from MYR 6.2m as two ships came out of drydock.
The company remains in talks with lenders over rejigging its debt.
It has until 30 June to submit a plan to Bursa Malaysia.
Global
