Ramba Energy

Ramba Energy: 4Q13 net loss widened to $4.4m from a net loss of $1.8m, taking FY13 net loss to $15.3m. Revenue declined 1.2% to $19.0m mainly due to lower revenue from Chemical Logistics business, while bottom-line was further weighed by a 13.1% rise in total costs and operating expenses to $22.5m. The higher expenses was due to 1) higher FX losses from a weakening Rupiah; 2) legal and professional fees; and 3) provisions made for doubtful trade receivables.