CNASIA 7986 Share Price

The Group’s LBT decreased by 18% to RM1.4 million from a LBT of RM1.8 million in the preceding quarter mainly attributable to lower administrative expenses due to the absence of share options expenses in the current quarter compared to share options expenses of RM0.9 million recognised in the preceding quarter. However, the effect of the low administrative expenses was offset by the increase in other operating expenses of RM1.1 million which relate to an allowance for impairment of investment recorded in the current quarter.

The Group’s revenue for the current quarter of RM4.0 million was 63% higher than the immediate preceding quarter of RM2.4 million. Hence, the Group reported a lower LBT of RM0.8 million compared to a LBT of RM1.2 million in the preceding quarter. The increase revenue was mainly from the manufacturing segment of RM1.3 million and financial services segment of RM0.2 million in the current quarter as a result of resumed activities after the MCO in September 2021.

The Group reported a higher LBT of RM1.2 million compared to a LBT of RM0.6 million in the preceding quarter. Whilst the reimplementation of the MCO with interstate travel restriction and suspension of on-site project activities, the Group’s production activities were restricted, and delivery schedule of its products were postponed during the quarter under review. The Group resumed to its normal operation in September 2021.

CN Asia Corp Bhd said it will apply for a digital banking licence to offer services for women. The group said it had signed a memorandum of understanding with Intcys Sdn Bhd, under which it plans to invest RM400 million in the establishment of a consortium to provide digital banking for women. Via the proposed MyWeW (Women Empowering Women) Digital Bank, the group plans to offer services such as entrepreneurial financing, microloans, applications of debit and credit cards, and opening of digital bank accounts.

The Group’s revenue for the current quarter of RM6.8 million was 156% higher than the immediate preceding quarter of RM2.7 million owing to the contribution from the contract to supply road tankers abroad amounted to RM4.9 million. In addition, the change in depreciation method has impacted the LBT by RM0.3 million. As a result, the Group recorded a higher LBT of RM0.6 million compared to RM0.4 million in the immediate preceding quarter.

The Group’s revenue for the current quarter of RM1.9 million was 47% lower than the preceding quarter of RM3.6 million. This is mainly due to the deferment in clients’ scheduled activities owing to the global COVID-19 pandemic. In line with the decline in revenue during the quarter, the Group’s loss before tax rose to RM2.5 million as compared to RM17,000 in the preceding quarter.

The Group’s revenue for the current quarter of RM3.6 million, decreased marginally as compared to the preceding quarter. Nevertheless, the Group recorded a loss before tax of RM17,000 in the current quarter as compared to a PBT of RM0.1 million in the previous quarter mainly due to dropped in the GP margin from 21.8% to 19.2%.

In Financial Year End 2018, the directors’ remuneration was 1 million. It was slightly high compared to average in listed companies, considering the employees’ remuneration of 4.6 million and auditor’s remuneration of 73 thousands