Financials

Quarterly Report For The Financial Period Ended 31 December 2018


Unaudited Condensed Consolidated Statement Of Comprehensive Income For The 4th Quarter Ended 31 December 2018

Unaudited Condensed Consolidated Statement Of Financial Position As At 31 December 2018

Review of Performance

In the current quarter under review, the Group achieved revenue of RM101.00 million and operating profit of RM9.39 million. For the year-to-date, the Group recorded revenue of RM283.49 million and operating profit of RM46.48 million. The revenue generated was mainly from construction segment which represented 72.9% and 65.2% of total revenue for the current year quarter and year-to-date respectively.


The Group reported a profit before taxation of RM6.89 million and RM28.57 million for the current quarter and year-to-date respectively. The Group mainly incur administrative expenses i.e. salaries and wages and depreciation expenses and finance costs mainly from Sukuk expenses and term loans.


The Group had to charge a one-off reverse acquisition expenses of RM7.10 million to its consolidated statement of profit or loss and other comprehensive income. If not due to these expenses, the Group will record a profit before taxation of RM35.67 million for year-to-date.


No comparison of the current financial quarter’s result can be made with that of the preceding financial year’s corresponding quarter due to the Reverse Acquisition as explained in Note A2.1 to these interim financial statements.


Comparison to the Results of the preceding quarter

No comparison of the current financial quarter’s result can be made with that of the preceding financial year’s corresponding quarter due to the Reverse Acquisition as explained in Note A2.1 to these interim financial statements.


Prospects

The Group remains optimistic of its prospects given its ongoing existing projects and potential to secure new contract in 2019 despite challenging business environment. As of to date, the Group has participated in public and private-sector tenders worth close to RM1 billion. The Group is also exploring opportunities in projects which could give long term and sustainable revenue.