Bumi in red

摘要

MALAYSIAN offshore service provider Bumi Armada fell to a first-quarter loss as impairments offset a rise in revenue. The company posted a loss of 224 million ringgit ($51.5 million) for the first three months of 2020, compared to a profit of 62.2 million ringgit in the first quarter of 2019. Weighing on results were non-cash impairments totalling 314.4 million ringgit on the company's offshore marine services business due to the current challenging market conditions created by low oil prices.