Naim unveils recovery plan
Naim chairman Datuk Amar Abdul Hamed Sepawi(pic) and managing director Datuk Hasmi Hasnan put the blame on the MRT project’s losses to delays in site possession, “overloaded” site instructions and changes at the project’s late stage
KUCHING: Naim Holdings Bhd 
, which was hit by huge losses arising mainly from the Klang Valley Mass Rapid Transit (MRT) project last year, has put in place a “five-year recovery plan” to bring the company back to profitability.
Sarawak’s leading property developer suffered losses of RM121mil from the MRT project and its oil and gas (O&G) associate Dayang Enterprise Holdings Bhd .
For the financial year ended Dec 31, 2017 (FY17), Naim recorded a pre-tax loss of RM147mil – the first-ever loss in its 23-year corporate history – from a pre-tax profit of RM4mil previously. Net losses for FY17 came in at RM168.74mil.
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