Malton Berhad’s revenue for the current year quarter increased by 41.8% to RM275.7 million as compared to RM194.5 million reported in the preceding year’s corresponding quarter while PBT for the current year quarter declined to a loss of RM65.9 million as compared to PBT of RM100.1 million reported in the preceding year corresponding quarter.
Revenue for the current year to date improved by 28.9% to RM831.8 million as compared to RM645.2 million reported in the preceding year corresponding year to date. However, the group’s full loss expanded to RM84.6 million.
Despite the dividend income received, other operating income for the current year to date declined to RM69.9 million as compared to RM83.3 million in the preceding year corresponding year to mainly to a one-off government grant received of RM15.9 million, fair value gain on redeemable preference shares of RM37.0 million and reversal of allowance for impairment loss in trade receivable of RM16.7 million recognized as other operating income in the preceding year corresponding year to date.
The loss before tax of RM60.8 million for the current year to date as compared to PBT of RM129.5 million recorded in the preceding year corresponding year to date despite increased revenue was mainly due to the written off of land held for property development of RM39.5 million from the Taman Tun project, fair value loss on investment in redeemable
preference shares of RM68.5 million, recognition of losses in an associated company, and joint ventures of RM28.8 million coupled with lower other operating income.
