In 6MFY16, Kinsteel’s net loss shrank to RM19.73 million from RM35.32 million, though revenue slid 3% to RM125.24 million from RM128.8 million previously. On prospects, Kinsteel echoed Perwaja's sentiment, saying it expects the outlook to remain challenging. Kinsteel and Perwaja are financially-distressed companies that have been classified as Practice Note 17 companies by the local stock exchange. Kinsteel shares closed slid 0.5 sen or 11.1% to four sen today, for a market capitalisation of RM41.7 million. Meanwhile, Perjawa shares ended the day 0.5 sen or 8.33% higher at 6.5 sen, valuing it at RM36.4 million.

Source: The Edge Markets February 21, 2017 13:18 UTC