The oil and gas services provider’s revenue dipped 1% to RM201.29 million from RM202.82 million, it reported in a stock exchange filing. A second interim single-tier dividend of 2.25 sen per ordinary share, payable on March 28, was also announced. This brings the total of financial year 2016 (FY16) payout to 3.5 sen versus 5.5 sen in FY15. Despite oil prices trending higher, there was little change in business conditions year-on-year as major operators continued with their existing strategies adopted since 2014’s oil price slump, Deleum said. “Despite the better oil prices, outlook is still likely to remain cautious,” said Deleum.

Source: The Edge Markets February 28, 2017 02:15 UTC