Macau junket operator Amax International Holdings has manage to slash its net loss by as much as 94.87 percent in the financial year that ended March 2018, thanks to its “flourishing” business operations in Vanuatu and Cambodia.

In a disclosure to the Hong Kong Stock Exchange, Amax announced that it brought down its net loss to HKD50.7 million (US$6.5 million) in the 12 months ending March 2018, from HKD988.5 million (US$125.97 million) in previous financial year.

Meanwhile, the company’s loss per share amounted to approximately HKD0.07 (US$0.0089) compared to approximately HKD1.96 (US$0.25) in the last financial year.

The decrease of its net loss was a result of the firm’s continued streamlining efforts and the reduction of the recognition of its impairment losses during the year, according to Amax.