Refer to the explanatory notes in the report, Rev dropped was due to the completion of H2O project, however as you can see the profit before tax is actually higher (suppose 32.7mil) than previous year, but drag down because of 8mil spent on their marketing activities (showroom & sales gallery for 3 projects in FY19). Their income tax expenses also higher than statutory tax rate of 24% due to under provision of tax liabilities in previous year and deferred tax assets not recognized by subsidiary companies. Excluding these unsual items, Titijaya is actually doing great in FY2018. Clearly the share price drop is just a knee jerk reaction from someone doesn't understand accounting, could probably just peep on the figures and having misperception that the result is bad.
And if you check on the other income, rental from LRT3 project hasn't kick in yet. That should be reflected in next Q report.
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Superb99
6,611 posts
Posted by Superb99 > 2018-08-20 11:47 | Report Abuse
top up at 0.395