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Investing.com -- Shares of Dialog Group, a Malaysian oil-and-gas services provider, experienced a significant drop, marking their largest decline in nearly 20 years.
The shares plummeted by up to 19% early Friday and were last seen down 18% at 1.48 ringgit. This places the shares on course for their most substantial one-day decline since 2008.
The company reported a net loss of 129.5 million ringgit, or $29.1 million, for the quarter ending Dec. 31, according to a filing late Thursday.
This contrasts with a profit of 148.3 million ringgit earned in the same quarter a year earlier.
Dialog Group attributed the loss primarily to one-time impairments on its investments and cost overruns. Moreover, the company's quarterly revenue also decreased, falling by 21% to 680 million ringgit.
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