Malaysia’s Icon Offshore has ended the 2017 financial year in the red posting a fourth quarter loss of MYR 45.9m ($11.7m).

Despite the red ink it marked an improvement on the losses seen a year ago of MYR 152.9m, which were heavily impacted by impairments.

Revenue at the Kuala Lumpur-listed company edged down close to 6% to MYR 50.1m,