MTQ Corporation

[brattzz]

Results & outlook
Commenting on the results and outlook, Mr Kuah Boon Wee, Group Chief Executive Officer
said,

“The past year has continued to be tough. Our Oilfield Engineering segment showed
progress and recorded a positive EBITDA for the full year in line with the improving
market sentiments in the region. On the other hand, general activity surrounding the
Neptune segment continued to remain slow and this has weakened the Group’s overall
operating results and cash flows.

We are pleased that the MTQ Rights cum Warrants Issue has been successfully
completed in April 2018 and are grateful for our shareholders’ support in this exercise.
With the Group now in a net cash position, the Group can work positively towards
improving its results in the upcoming year. We will also explore options to reposition
loss making units for better markets. Recent market sentiment in the Oilfield
Engineering Division is encouraging and our stronger financial position will enable us
to take advantage of opportunities ahead.”