Hai Leck Holdings reports Q4 net profit of $4 million

SINGAPORE - Hai Leck Holdings' fourth quarter net profit fell to S$4 million from S$6.2 million last year.

Revenue for the three months to June 30 was up 6.2 per cent to S$35.1 million, affected by oil prices.

"Oil prices remained low and impacted the down-stream in the oil and gas industries negatively," the firm said in a release on Monday. "In general, oil majors are reducing their capital expenditure."

For the full year, fell to S$11 million on the back of a 8.7 per cent fall in revenue to S$119.4 million.

Quarterly earnings per share fell to 1.1 cents from 1.6 cents previously while net asset value per share was 28.8 cents, down from 30.1 cents a year ago.