NICE 7139 Share Price

The Group reported a loss before taxation of RM12.4 million for the current financial year ended 30 June 2024 as compared to last year’s loss of RM6.5 million, which were due t a RM5.9 million reversal of prior year’s provision of liabilities written off for the Company’s obligation under the corporate guarantees on a former subsidiary, Yikon Jewellery Industry Sdn Bhd’s bank borrowings. Also, reversal of receivable impairment and RM1.0 million (FY2023) reversal of inventory impairment on realisation of inventory. Moving forward, the Group is pending the Operating Mining Scheme approval from the Department of Mineral and Geoscience of Kelantan, which the Group expect to obtain soon. Then, the Group will move ahead to complete the construction of the first heap leach plant and barring unforeseen circumstance, the plant will be commissioned by the fourth quarter of calendar year 2024. Further, the Group expect to increase trading activities from its precious metals’ portfolio. For the Construction and Services segment, it is expected to support the construction works of its infrastructure and mining processing plant internally as well as will continuously explore new opportunities to build its order book.

The Group recorded a RM2.8 million loss before taxation in the current quarter compared to a profit before taxation of RM3.9 million in the immediate preceding quarter. Included in the preceding quarter was a RM5.9 million reversal of prior year’s provision of liabilities written off. Revenue decreased by 87.1% from RM2.1 million in the immediate preceding quarter to RM278,000 in the current reporting quarter. Current quarter revenue was solely contributed by Trading segment as compared to preceding quarter where revenue was contributed by Trading segment and Construction and Services segment.

The Group recorded loss before taxation of RM1.2 million in the current quarter compared to a loss before taxation of RM577,000 in the immediate preceding quarter. Revenue increased by 630.9% from RM1.0 million in the immediate preceding quarter to RM7.6 million in the current reporting quarter. Both Construction and Services segment and Trading segment increased significantly from immediate preceding quarter. During the current quarter, there was a RM571,000 impairment on renovation of a retail outlet which the Group did not renew the premise lease.

The Group recorded loss before taxation of RM1.36 million in the current quarter compared to a loss before taxation of RM1.44 million in the immediate preceding quarter. The revenue reduced by 58.85% from RM4.33 million in the immediate preceding quarter to RM1.78 million in the current reporting quarter. The various versions of Movement Control Order (MCO) implemented by the authority has adversely affected the operation of the Group throughout the current financial year.

Gold-related stocks on Bursa Malaysia are once again back on investors’ radar as the price of the precious yellow metal rose to its highest level in 14-weeks. Listed jewellers, Niche Capital Emas Holdings Bhd were among the most active equities yesterday. Yesterday, gold spot prices exceeded US$1,850 (approximately RM7,644) per ounce, marking an increase of almost 7% since March 2021.

The Group recorded loss before taxation of RM715 thousand in the current quarter compared to a loss before taxation of RM1.07 million in the preceding quarter. The revenue increased by 7% from RM4.57 million in the preceding quarter to RM4.89 million in the current quarter. The increase in revenue was contributed by the Group’s jewellery segment. The MCO implemented by the authority has halted the Group’s revenue from the construction operation.