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Latest Quarterly Result

Quarterly Report For The Financial Period Ended 31 March 2018

Financials Archive

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Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
For The Financial Period Ended 31 March 2018

Income Statement

Condensed Consolidated Statement of Financial Position
As At 31 March 2018

Balance Sheet

Detailed analysis of the performance of all operating segment of the Group in 1Q 2018

Financial review for current quarter

review_01

Current quarter ("1Q 2018") against preceding year corresponding quarter ("1Q 2017")

For the 1Q 2018, the Group registered revenue of RM27.271 million and loss before tax of RM3.486 million as compared to revenue of RM38.051 million and loss before tax of RM2.469 million reported in the 1Q 2017. The decrease in the Group revenue was mainly due to decrease in sales volume mainly from our trading sector. The Group reported higher loss before tax of RM3.486 million compared to loss of RM2.469 million in 1Q 2017, mainly due to decrease in revenue and the sale of completed unit from inventory in 1Q 2017.

The performance of the respective operating business segments for the 1Q 2018 under review as compared to the 1Q 2017 is analysed as follow:

Trading and services

The trading sector reported lower revenue of RM16.781 million in 1Q 2018 as compared to RM26.237 million in 1Q 2017, mainly due to lesser sales volume. Despite a decrease in the revenue, the loss recorded by trading sector is comparable for the two reporting period i.e. RM1.927 million in 1Q 2018 and RM1.832 million in 1Q 2017, substantially due to the non-recurrence of expenses incurred for business development overseas in 1Q 2018.

Property development

The property development sector registered a lower revenue of RM4.065 million in 1Q 2018 as compared to RM8.257 million in 1Q 2017, mainly due to the inclusion of sales of completed units from inventory in 1Q 2017. Following the decrease in revenue, the sector recorded a loss before tax of RM0.922 million in 1Q 2018.

Construction

The construction sector registered a higher revenue of RM8.218 million in 1Q 2018 as compared to RM4.237 million in 1Q 2017. The increase in revenue for 1Q 2018 was mainly due to increase in work done for our construction projects. The construction sector recorded loss of RM1.234 million compared to loss before tax of RM0.483 million in 1Q 2017 mainly due to increase in work done for project with lower profit margin and increase in overhead cost.

Investment property

Revenue for the current quarter increased marginally by 1.4% from RM0.705 million to RM0.715 million. Correspondingly, the profit before tax recorded in 1Q 2017 is comparable with 1Q 2018, RM0.025 million for the 1Q 2018 and RM0.024 million in 1Q 2017.

Comparison with preceding quarter results

Current quarter (1Q 2018) against immediate preceding quarter (4Q 2017)

review_02

For 1Q 2018, the Group recorded revenue of RM27.271 million, a decrease of RM11.881 million or 30.3% from RM39.152 million in 4Q 2017. The Group also recorded a loss before tax of RM3.486 million as compared to loss before tax of RM3.238 million in 4Q 2017. The decrease in total revenue is mainly due to decrease in work done for our construction projects. Despite a decrease in revenue the loss recorded is comparable mainly due to higher provision for foreseeable loss in 4Q 2017.

Prospects

The sluggish outlook for the construction and property development industry where the Group business substantially rely on, is expected to prolong and remain challenging to the Group's performance. Moving forward, the Group expect to increase its construction order book, with current book estimated at RM233.2 million, and enhance its trading activities. The Group will continue to look for new business opportunities in Malaysia and abroad, in its effort to strive for a commendable performance for the remaining period of the financial year.


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