Scomi Marine hit with RM116.5m loss

(Bernama) – Scomi Marine Bhd posted a lower pre-tax loss of RM116.47 million for the financial year (FY) ended Dec 31, 2011, from RM206.186 million previously. Revenue fell to RM390.82 million from RM409.029 million a year ago.

Scomi Marine said it remains cautiously optimistic on the outlook for the oil and gas industry amid challenges in the economic environment globally.

“There are signs of steady improvement from the emerging economies that will provide support for longer term energy demands.

“The group expects the maritime industry to benefit from increasing globaldemand of offshore activities in the region,” the company said in a filing to Bursa Malaysia here today.

The fundamentals driving the offshore support activities remain intact with more explorations expected in order to meet the increasing demand for energy.

This will augur well for the demand of offshore supply vessels and seaborne coal logistic solutions, it added.

The company said it is committed to continue to improve the productivity of its Indonesian coal transportation operations to derive better results for the group.