Wake-up call: Gallant Venture loses $4.5 million in 2Q
No thanks to its main subsidiary.
Gallant Venture posed disappointing results in the latest quarter due to underperformance by its main subsidiary, Indomobil.
According to a report by RHB, the company registered a net loss amounting to $4.5 million and a revenue loss of 17% from last year.
RHB says that even though the Indomobil results will likely put a drag on Gallant Venture, its Bintan core business is still doing well.