TSRCAP 5042 Share Price

The Group’s Profit Before Taxation for the current financial year was RM11.69 million, a substantial improvement from the RM1.84 million recorded in the last financial year. This significant profit growth was driven by the finalisation of the account for a completed construction project, a gain from the disposal of an investment property, as well as contributions from the ongoing construction contracts and the launched development project in Kwasa Damansara. Moving forward, The Group will selectively participate in construction project tenders and continue to expand its property development activities. With the launch of its development project in Kwasa Damansara, the property development segment is expected to contribute a higher proportion of the Group’s revenue.

The Group recorded Loss Before Taxation of RM2.0 million as compared to Profit Before Taxation of RM0.90 million reported in the immediate preceding quarter, mainly due to provision of impairment losses on receivables and increased in operation expenses.

The Group registered a Profit Before Taxation of RM0.3 million in the current quarter compared to the Loss Before Taxation of RM1.9 million reported in the immediate preceding quarter. The current quarter’s results were improved due to reversal of impairment losses and recovery of liquidated ascertained damages

The Group recorded a loss before taxation of RM31.1 million as compared to the profit before taxation of RM21.9 million attained in the financial year ended 30 June 2020. Overall, the weaker performance was mainly attributable to the challenges faced at the Construction segment of lower level of construction activities arising from the COVID-19 pandemic situation and the prolonged Movement Control Order and compression of project margin due to higher implementation costs and extended time required to complete the projects. Moving forward, the Group shall continue to enhance its order book by actively participate in tendering viable project which are mainly of infrastructural nature. In the meantime, the construction division will focus on the implementation and execution of project on hands.

The Group registered a Loss Before Taxation of RM26.5 million in the current quarter compared to the Loss Before Taxation of RM0.2 million reported in the immediate preceding quarter. The wider Loss Before Taxation was mainly due to full written off of contract costs with a sub-contract work, impairment of inventory and investment properties as well as higher implementation costs for on-going projects.

The Group registered a Profit Before Taxation of approximately 73% in the current quarter compared to the Profit Before Taxation of 3% reported in the immediate preceding quarter. The improvement in profit was mainly contributed by the gain on partial disposal of a former subsidiary and the remeasurement gain on retained interest in the former subsidiary