Pico Thailand posts loss in Q1

Bangkok, 16th March: Earlier this week, Pico Thailand, the Thai-listed subsidiary of Pico Far East Holdings, announced its results for the quarter ended 31st January 2026. Revenues during the quarter were US$6.2 million, representing a year-on-year decrease of 34%.

The company posted a net loss of US$426,000 in the quarter, compared with a profit of US$239,000 recorded in the same quarter last year.

The company attributed the decrease in revenues to a decline in income from the public sector due to the political climate, particularly during the transition period under a caretaker government, which impacted budget approvals and project decision-making.

Separately, Pico Thailand announced the approval of the appointment of Ms. Chia Yuan Jiun, as the Chairman of the Board of Directors of the company, effective from 16th March 2026.