REKATECH 0081 Share Price

The Group performance in fnancial year ended 30 June 2023 continues to be pressured by the deteriorating operating environment, the Group recorded a revenue and loss after tax of RM4.51 million and RM14.78 million respectively due to the loss on impairment of fnancial instruments. The business environment is expected to remain challenging as we head into the new fnancial year. The product type, after taking into consideration the current trends, environment of the properties, pricing and the timing of further projects will all be planned with meticulous deliberation.

The Group recorded a revenue and loss after tax of RM15.37 million and RM3.21 million respectively due to the loss on impairment of financial instruments and Covid pandemic was effected which exacerbated the already slowing and dampening consumer sentiment. The Group will continue to explore business opportunities for the sustainable growth of the Group by venturing into central part of Peninsular Malaysia. The business environment is expected to remain challenging as we head into the new financial year. The product type, after taking into consideration the current trends, environment of the properties, pricing and the timing of further projects will all be planned with meticulous deliberation

The profit after tax of the Group for the current financial quarter was approximately RM0.25million which is lower than profit after tax RM0.65milion recorded in the previous period corresponding quarter. The decrease in profit is mainly due to the lower profit margin generated from trading in building, steel and construction materials.

The loss after tax of the Group for the current financial quarter was approximately RM28.51million which is higher than loss after tax RM10.20milion recorded in the previous period corresponding quarter. The increase in losses is mainly due to losses from letting of investment properties due to COVID-19, allowance for impairment loss and income tax expenses under provision in prior years.

The profit after tax of the Group for the current financial quarter was approximately RM0.65million which is higher than profit after tax RM0.042milion recorded in the previous period corresponding quarter. The increase in profit is mainly due to the higher revenue generated from trading in building and construction materials

In Financial Year End 1.1.2019 – 30.6.2020, the directors’ remuneration was 0.89 million. It was slightly high compared to average in listed companies, considering the employees’ remuneration of 1.4 million and auditor’s remuneration of 86 thousands

Due to the Movement Control Order (MCO) effected from 18 March 2020, construction sites being not considered as essential service had to cease operations which resulted in the lower of both revenue and profit before tax.