Tekala slides to 8-year low on Q2 net loss

Tekala Corp, a Malaysian timber company, fell to its lowest in more than eight years after its fiscal second-quarter net loss widened to RM44.6 million from RM7.6 million a year earlier.

The stock slid 2.9 percent to 50.5 sen at 9:08 a.m. local time in Kuala Lumpur trading, set for its lowest close since March 2003. -- Bloomberg



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Tekala Corp posts Q2 pre-tax loss

Tekala Corp Bhd's pre-tax loss for the second quarter ended Sept 30, 2011, increased to RM69.1 million from RM4.96 million. Its revenue also decreased to RM24.3 million during the period under review from RM35.4 million registered previously.

In a filing to Bursa Malaysia today, Tekala Corp said the decrease in revenue for the current quarter was mainly due to lower plywood sales.

Meanwhile, its pre-tax loss for the quarter was due to impairment losses of vessel and receivables of a subsidiary.

"Barring any unforeseen circumstances, the directors expect the group's results for the remaining financial year to improve," Tekala Corp added. -- Bernama



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