Luckily I throw away scomi liao.
Scomi Group Bhd recorded a lower pre-tax profit of RM21.409 million for the six months ended June 30, 2010, compared to RM68.814 million in the same period last year. Its revenue dropped to RM888.556 million from RM1.039 billion previously. For the second quarter, the company registered a pre-tax loss of RM8.441 million from a pre-tax profit of RM47.293 million in the same period last year while its revenue decreased to RM429.299 million from RM518.868 million. In a statement today, Scomi Group said its results were impacted by adjustments for the hyper inflationary provisions in Venezuela of RM16 million and translation loss, as the US dollar weakened against the Malaysian ringgit, of RM7 million. The results were further affected by its Transport Solutions Division''s lower contribution due to an increase in cost estimates to the completion of the Mumbai monorail project, lower contribution from the Machine Shop business and slower pick-up in the Western Hemisphere especially in the UK and US. The Transport Solution Division under Scomi Engineering recorded a revenue of RM87 million, a drop of 42 per cent compared to the corresponding quarter in 2009. Scomi Group said the decrease was mainly due to lower revenue recognised from the on-going monorail project and lower sales from the Machine Shop unit. Its Mumbai monorail project is steadily running on schedule despite estimated increase in costs to the completion of the project. The delivery of the first monorail to Mumbai will begin in October. Meanwhile, its Oilfield Services continues to be the major contributor to the group, generating a revenue of RM330.4 million or 77 per cent. This was a result of encouraging operations from its Drilling Waster Management and Drilling Fluids activities in the Eastern Hemisphere. -- Bernama