Malaysia Marine and Heavy Engineering up 5.5% as it turns profitable in FY17

PETALING JAYA: Malaysia Marine and Heavy Engineering Holdings Bhd's (MMHE) share price continued to rise today after it made a net profit of RM48.13 million for the fourth quarter ended December 31, 2017.

The stock rose as much as 4.5 sen or 5.5% to 86.5 sen. At 12pm, it gained 3.5 sen or 4.3% to 85.5 sen, with some 4.74 million shares changing hands.

Its full-year net profit stood at RM34.23 million versus a net loss of RM134.3 million a year ago.

MMHE has proposed to declare a dividend of 3 sen per share amounting to RM48 million for the quarter under review, payable on March 8.