Quarterly Report For The Financial Period Ended 31 March 2018

Financials Archive

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Unaudited Condensed Statement of Profit or Loss and Other Comprehensive Income For The Quarter Ended 31 March 2018

income statement

Unaudited Condensed Consolidated Statement of Financial Position As At 31 March 2018

balance sheet

Review of Company Performance

The Company recorded revenue of RM32.80 million and profit before tax of RM3.27 million for the current financial quarter ended 31 March 2018. The Company’s revenue was derived from the provision of mainly electrical engineering services.

Comparative figures for the corresponding period of the preceding quarter are not available as this is the fourth interim financial report for the first quarter ended 31 March 2018 announced in compliance with the Listing Requirements.

Comparison with Immediate Preceding Quarter Results

The Company recorded lower gross profit of RM5.73 million for the current quarter as compared with RM7.03 million in the preceding quarter mainly due to higher costs despite higher revenues.

The Company’s profit before tax of RM3.27 million for the current quarter was 19.9% higher than the RM2.73 million achieved in the previous quarter. The increase was mainly due to the non-recurrent listing expenses of approximately RM1.97 million incurred in the previous quarter.

Prospects for the Financial Year

The Company will continue to focus on the following future plans and business strategies for the future growth and expansion of its business:-

  1. grow its market share in Malaysia by increasing tendering activities, focusing on affordable housing sector and geographical expansion;
  2. strengthen its capabilities by growing its mechanical engineering services segment; and
  3. diversifying its revenue stream by providing maintenance services including upgrading, expansion, refurbishment, retrofitting and renovation projects.
  4. In the area of technology innovation, we are planning to collaborate with a software specialist to develop our own proprietary internet-of-Things based software that can monitor ventilation and air-conditioning systems in order to enhance operational efficiencies and reduce cost.

The Board of Directors is of the opinion that the Company’s financial performance for the current year to be satisfactory.