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Malaysia's SapuraKencana posts quarterly profit on forex gain

KUALA LUMPUR, Sept 28 (Reuters) - SapuraKencana Petroleum Bhd, Malaysia's biggest oil and gas services company, reported on Wednesday a quarterly profit for the second time in a row on forex gain and cessation of a risk service contract.

Net profit rose nearly 8 percent to 112.3 million ringgit ($27.16 million) in its second quarter ended July 31 from 104.1 million ringgit a year earlier, the company said in a filing with the stock exchange.

Revenue, however, fell to 1.68 billion ringgit from 2.80 billion ringgit on lower engineering and construction activities.

Continued uncertainty in oil prices has resulted in prolonged low levels of capital spending in the industry, SapuraKencana said in the statement.

"In replenishing the order book, the group continues to face stiff competition and pressure on margins," said the company, adding its board of directors did not recommend any dividend payment for the third quarter. ($1 = 4.1355 ringgit) (Reporting by Emily Chow; Editing by Subhranshu Sahu)