MUH 9539 Share Price

Group profit before tax experienced a 42% or RM4.320 million decline in current financial year compared to last finance year (RM5.904 million vs RM10.224 million). The above decline is a result of unfavourable market conditions, its property segment remains profitable with commendable margin attributed to a combination of factors, including competitive land bank cost and improved cost management strategies. Going forward, the Group will continue to focus on and develop its core business segment which is property development segment in Bandar Machang Bubok, Bukit Mertajam. The Group is still on a continuous look out for land acquisition and joint venture opportunities to add to its existing land bank and continues to seek for new business opportunities that will contribute positively to the Group.

The Group recorded revenue of RM20.278 million and profit before tax of RM10.224 million respectively compared to revenue of RM20.393 million and profit before tax of RM7.187 million in FY2021, representing a decrease of RM0.115 million in revenue and increase in proft before tax of RM3.037 million. The Group’s revenue was mainly contributed by the property development segment and increase in proft before tax was arising from gain on disposal of freehold land and factory building located in Bukit Mertajam, Penang. The Board will continue to adopt a cautious approach for the Group’s property development projects and will evaluate all options available to the Group at the material point in time before launching any projects. The group will also continue to focus on monetising its inventories and timely completion of its development projects. The Group will continue to focus on and develop its core segment which is property development in Machang Bubok. The Group is still on a continuous look out for land acquisition and joint venture opportunities to add to its existing land bank.

The Group’s profit before tax increased by RM3.194 million to RM4.960 million in the current quarter as compared to RM1.766 million in the immediate preceding quarter. The increase in the profit generated in the current quarter was mainly due to the disposal of freehold land, factory building and plant and machinery. The Group has also made a provision of judgement sum in breach of The Sale & Purchase Agreement dated 21 January 2016 in relation to the High Court Originating Summons

The Group recorded proft before taxation of RM7.187 million for FY2021 as compared to loss of RM3.091 million for FY2020. The increase in revenue and proft before taxation was mainly contributed by the property development segment. Due to the continued uncertainty posed by the Covid-19 pandemic and the respective Phases of lockdowns under the National Recovery Plan (NRP) imposed by the Government, the Group will monitor the market closely before deciding on the launch of the upcoming development of 2 blocks of apartment with commercial lots at the lower levels.

The Group recorded profit before tax of RM1.821 million in the current quarter compared to profit before tax of RM1.070 million in the immediate preceding quarter mainly due to higher revenue for the current quarter mainly due to higher contribution from the on-going projects

The Group recorded a revenue at RM0.418 million compared to RM0.536 million in the preceding quarter mainly due to less building materials and trading goods supply to the sub-contractors for in-house project. The Group recorded loss before tax of RM0.916 million in the current quarter compared to loss before tax of RM0.802 million in the preceding quarter mainly due to adjustment for development cost arising from the finalisation of account for nearly completed projects and inventories written down for manufacturing segment.

In Financial Year End 2019, the directors’ remuneration was 2.03 million. It was slightly high compared to average in listed companies, considering the employees’ remuneration of 4 million and auditor’s remuneration of 185 thousands