The result, which reversed a year-earlier profit of S$20.9 million, followed a 17% year-on-year drop in group turnover to S$3.5 billion from S$4.2 billion in 2014 due to less marine engineering work, partly offset by an increase in shipbuilding and ship repair revenue.
A gross loss of S$214.8 million, versus a year-earlier profit of S$291 million, was blamed on lower revenue and higher inventory writedowns of S$309.3
