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.

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