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Hong Leong Asia swings into 2Q loss of $18.3 mil

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Hong Leong Asia swings into 2Q loss of $18.3 mil

Zavier Ong Published on Fri, Aug 12, 2016 / 7:25 PM GMT+8

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SINGAPORE (Aug 12): Hong Leong Asia swung into a 2Q net loss of $18.3 million from a gain of $638,000 a year ago.

Despite registering profits from its Yuchai diesel engines unit and building materials unit, this was not sufficient to offset the loss incurred by Xinfei consumer and home appliances unit.

Revenue fell 15.8% to $994.2 million from a year ago, mainly due to slowing economic growth in China.

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