Ist quarter FY2016 report to be announced on 16 June 2016 onward and expected result will not be so good due to a fire outbreak on the new constructed warehouse on 4th March 2016.The expected loss for this incident is RM14.4 million
The quarterly loss of RM 9.5 million was mainly due to written off of inventory and property, plant and machinery amounted to RM 12.8 million as disclosed above. The operating net profit before tax should be RM 3.3 million if without taking into consideration of loss suffered due to fire outbreak. The fire loss is expected to be recovered through insurance claim. Hence, the resultant loss reported would be significantly reduced after taking in the compensation from insurance company. As disclosed above, the revised net profit margin (after excluding the fire loss) was dropped from 8% to 6%. This was mainly due to the strengthening of RM against USD in this quarter resulted a loss in foreign currency and derivatives of RM 1.8 million as compared to lower loss of RM 0.07 million in 1QYE16.
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New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Alex Goh
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Posted by Alex Goh > 2016-03-25 22:10 | Report Abuse
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