KUALA LUMPUR (Oct 30): Borneo Oil Bhd shares fell 10% this morning after it made a loss in the 17-month period up to June 30, 2018 instead of a profit after its accounts were audited.
At 9.03am, Borneo Oil fell 0.5 sen to 4.5 sen with 1 million shares traded.
The material variance was mainly attributed to an additional provision of a share-based payment expense under MFRS-2 amounting to RM11.14 million.
That means Borneo Oil has sunk to a pre-tax loss of RM1.59 million for the period under review. It previously announced an unaudited pre-tax profit of RM9.62 million on Aug 28.