Scomi Group Bhd suffered a pre-tax loss of RM33.47 million for the second quarter ended Sept 30, 2017 from RM30.59 million pre-tax loss in the same period last year.

Revenue fell to RM173.81 million from RM176.05 million previously.

In a filing to Bursa Malaysia today, the oil field equipment supplier said, the weaker financial performance for the period under review was mainly due to the higher losses recorded in its transport solutions division.

"The losses in the division was as a result of lower revenue and net unrealised foreign exchange losses arising from translation of accrued receivables for Mumbai and Brazil monorail projects, due to the weakening of both Indian rupee and Brazilian real against the ringgit.

"It was partially offset by unrealised foreign exchange gains arising from translation of US dollar loan for Brazil monorail project due to the strengthening of Brazilian real against the greenback during the quarter," it said.

On prospects for its drilling services, Scomi said, it would continue to actively participate in new bids and leverage on its existing infrastructure and actively pursue its cost rationalisation activities.

For marine services division, the group said, it expected the activity at its coal unit in Indonesia to remain robust and contribute positively to the group's overall bottom line. 

"For transport solutions division, the group will continue to intensify efforts to expand businesses in our current markets of Malaysia, Brazil and India and to pursue new businesses in various strategic markets such as China, Turkey and Association of Southeast Asian Nations for the rail segment," it said. 

- Bernama