DATASONIC’S PROFIT SOARS 122%
DATASONIC HAS REPORTED A PAT OF RM35.64 MILLION FOR ITS H1FY2013

PETALING JAYA, 30 AUGUST 2013 – Datasonic Group Berhad (“DSONIC” or the “Group”) announced its second quarter results for its financial year ending 31 December 2013 (‘Q2FY2013’) with a revenue of RM59.01 million. The Group’s current quarter under review reported a profit before tax (‘PBT’) of RM22.80 million, representing an increase of 29% compared to its last quarter of RM17.65 million. The Group’s profit after tax (‘PAT’) recorded an increase of 37% to RM20.59 million compared to its previous quarter of RM15.05 million.

The group’s revenue continued to be mainly derived from the supply of smart cards and consumables which generated a revenue of RM40.75 million, making up 69% of the total Revenue, has increased by 10% compared to its previous quarter of RM36.91 million. For the current financial period under review, the Group’s other main sources of profits are generated from the supply of hardware consumables, datapages and personalisation solutions, maintenance and technical support services which generated a revenue of RM14.14 million.

For the first half of FY2013 (“H1FY2013”), the Group’s revenue increased by 42% from RM83.25 million in first half of FY2012 (“H1FY2012”) to RM118.29 million, and its PAT increased 122% from RM16.06 million in H1FY2012 to RM35.64 million. The increase in revenue and PAT are contributed by a greater supply of smart cards where a bulk of the supply resulted from an extension of existing contract, increased in deliveries of hardware consumables, and more effective cost control measures.

The directors had on 30 August 2013 declared the first interim single-tier tax exempt dividend of 7.5 sen per share, amounting to RM10.13 million based on the issued and paid up share capital as at 30 August 2013. The Entitlement Date will be determined and announced in due course.

Looking forward the Group are positive in delivering a better performance for the remaining period of the financial year ending 31 December 2013, barring any unforeseen circumstances.

For more information about the Group please go to http://datasonic.com.my/

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1395909

CREST BUILDER Q2 PROFIT SOARS 221%
CREST BUILDER HAS REPORTED A PAT OF RM20.2 MILLION FOR ITS Q2FY2013

PETALING JAYA, 28 AUGUST 2013 – Crest Builder Holdings Berhad (“CBHB” or the “Group”)announced its second quarter results for its financial year ending 31 December 2013 (‘Q2FY2013’) with arevenue of RM68.8 million. The Group’s current quarter under review reported a profit before tax (‘PBT’) of RM22.2 million, representing an increase of 147% compared to itslast quarter of RM9.0million. The Group’s profit after tax (‘PAT’) recorded an increase of 221% toRM20.2 million compared to its previous quarter of RM6.3 million. The significant improvement in its profits was mainly due to the change in fair value of investment property in the current quarter of the financial year under review.

The Group’s construction division reported a revenue of RM58.9 million compared to RM115.4 million in the corresponding second quarter of FY2012. The decrease in revenue was mainly due to the completion of certain projects in FY2012. However, the construction division delivered a pre-tax profit of RM6.1 million compared to RM3.0 million in Q2FY2012. The increase in pre-tax was due to the Group’s ability to achieve higher margins from certain projects in the current quarter under review.

The property development division reported a revenue of RM7.6 million, a decrease of 34% from RM11.3 million in the corresponding quarter of FY2012. The reason for the decrease in segmental revenue was due to the completion of Alam Idaman service apartment development project in FY2012. However, the Group achieved an increase of pre-tax profit for its property development division to RM3.0 million from RM2.7 million in the corresponding quarter of FY2012.

“With upcoming property launches in the coming months and UNITAR commencing its student intake in September 2013 for our Tierra Crest Development, we are anticipating a stronger quarter ahead for us.” commented Mr. Eric Yong, Executive Director of CBHB.

OCK GROUP DELIVERS STEADY PROFIT FOR 1HFY13

PUCHONG, 27 August 2013 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider announced its second quarter results for its financial year ending 31 December 2013 (Q2FY13) with a revenue of RM33.3 million and a PAT of RM3.1 million, which showed a growth of 8.72% and 28.05% as compared to last quarter.

OCK’s cumulative financial performance for the first half of its financial year ending 31 December 2013 (1HFY2013) has delivered a healthy revenue and PAT of RM63.9 million and RM5.5 million, respectively.

In terms of the Group’s segmental performances, Telecommunications Network segment is still the core business of the Group which delivered revenue of RM20.2 million, followed by Green Energy & Power Solutions segment of RM8.862 million. Trading and M&E Services segments recorded revenue of RM3.09 million and RM1.152 million respectively. In particular, Green Energy & Power Solutions segment shows a double digit incremental growth as compared to the previous quarter.

Commenting on the results Mr. Sam Ooi, Managing Director of the Group said, “We are contented with the 2Q result as it is within our internal forecast, having said that, our stronger quarters are usually the second half of the year as we experienced previously.”

With the recent 10% Placement Exercise, Lembaga Tabung Angkatan Tentera (LTAT) has taken up the entire block of 25,900,000, being 10% of the entire paid up of the Group. The proceed amount to RM12.1 million was to utilize for regional expansion and working capital for the Group.

“LTAT’s entrance as a substantial shareholder provides us with a promising and strategic institutional investor for the Group in which we look forward to building a long-term collaboration with.” added by Mr. Sam Ooi.

In line with the Group’s effort in building its green energy business segment, OCK was awarded a contract worth approximately RM20 million to supply and construct a 10 megawatt solar project in Sepang, which is the largest solar farm in Malaysia upon completion. This project is targeted to be completed by the year end of 2013. Furthermore, through its acquired wholly-owned subsidiary Milab Marketing Sdn. Bhd, the Group has obtained a development order for a 1 megawatt solar farm in Kelantan.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1388745

FITTERS DRIVES A 60% GROWTH FOR ITS 2Q
PROPERTY DEVELOPMENT IGNITES THE GROUPS PROFIT GROWTH

KUALA LUMPUR, 26 August 2013 – FITTERS DIVERSIFED BERHAD (“FITTERS” or the “Group”), Malaysia’s largest fire protection and preventions solutions provider and manufacturer announced its financial results today for the quarter ended 30 June 2013 (“Q2FY2013”) with a reported revenue of RM111.3 million, which shows an increase of 60% in comparison to its previous quarter revenue (“Q1FYE2013”) of RM69.8 million. The Group recorded a profit before tax (“PBT”) of RM16.4 million and a profit after tax (“PAT”) of RM12.2 million which shows an increase of 40% and 43% respectively compared to its previous quarter for the financial year ended 31 December 2013.

The Group’s cumulative results for the first half of the financial year ended 31 December 2013 (1HFYE2013) reported a revenue of RM181.1 million, a slight decrease in comparison to its corresponding period for the financial year ended 31 December 2012 of (1HFYE2012) of RM197.4 million. Despite the decrease in revenue, the Group reported a cumulative PBT and PAT of RM28.1 million and RM20.8 million, an increase of 63% and 60% respectively compared to its corresponding 1HFYE2012.

The Group’s property development and construction division was the key contributor with a substantial revenue of RM89.4 million showing an increase of 29% as compared to its previous quarter. The increase in segmental revenue was due to the recognition of sales of its Zetapark development in Setapak, Kuala Lumpur and also due to the recognition of its construction work-in-progress.

Fitters’ fire services division reported a revenue of RM37.0 million which shows an increase of 21% in comparison to its previous quarter. The Group’s renewable & waste-to-energy segment achieved a staggering increase in revenue of 531% to RM24.6 million from RM3.9 million for its previous quarter. This was due to the recommencement of operations of its existing palm oil mill in Kuala Ketil, Kedah which was temporarily closed for upgrading and expansion works during the first quarter of 2013.

Dato Wong Swee Yee, Managing Director and Founder of the Group said that,” The Group is optimistic that it can further improve and achieve better financial and operating performance for the second half of the financial year ending 31 December 2013. We are anticipating a good year for our property development and construction segment once we launch our second property development on Jalan Ipoh called “DeSkye”. We also foresee a significant improvement in our renewable & waste-to-energy segment”

On 27 May 2013, the Board of Directors of the Group approved an interim dividend in specie for FYE2013 by way of treasury shares of RM0.50 each on the basis of 1 treasury share for every 30 existing ordinary shares for its shareholders.

DAYA MATERIALS DELIVER YET ANOTHER STRONG QUARTER
Revenue of RM231 million and EBITDA of RM22.7 million for the 1st Half 2013

KUALA LUMPUR, 20 AUGUST 2013 – Daya Materials Berhad (“DMB” or the “Group”) announced its second quarter results for its financial year ended 30 June 2013 (Q2FY13) with a revenue of RM131 million, representing an increase of 31% as compared to its last quarter of RM 100.1 million. The Group’s Q2FY2013 profit after tax (PAT) of RM7.1 million recorded a growth of 42% against its previous quarter of RM5 million. The increase in revenue was mainly due to the higher progress billing from Tapis subsea project in the O&G segment as well as our technical services segment.

DMB’s financial performance to date for its first half of its financial year ended 31 December 2013 (1HFY2013) has registered a revenue and PAT of RM231 million and RM12.1 million respectively, which shows a tremendous growth, compared to the preceding first half of its financial year ended 31 December 2012 (1HFY2012) of 105 million and 8.6 million respectively.

In terms of the Group’s segmental performance to date, the largest contribution came from the oil & gas segment with a revenue of RM114 million which contributed 49% of the revenue year to date. This resulted in the best quarterly result in DMB’s history in terms of top line revenue. The Groups polymer segment contributed a revenue RM11.7 million, translating into 6% of the revenue year to date. For its Technical Services Segment, the Group recorded a revenue of RM105 million, which contributed 45% of the total revenue to date.

Commenting on the results, Mr. Nathan Tham, Group Managing Director said “Our efforts in venturing upstream oil & gas in the past 12 months have resulted in significantly improved contributions from this sector. This will be the largest component of revenue source and is expected to continue to grow going forward. ”

On the 16 August 2013, DMB had entered into a Charter Party Contract (the Contract) with Technip Norge AS of Norway for the provision of an offshore subsea construction vessel together with a range of offshore services on a long-term charter basis for the North Sea and North Atlantic Regions. The Contract is worth up to RM400 million with a charter period of 7 years (up to 175 days per year). The Contract is expected to be completed by 2020.

“Securing this contract gives us the assurance that our business focus and investment efforts have been strategically driven on the right track. This contract also provides us the opportunity to expand our business footprint out of the Asia region and to build on a long term working relationship with our Norwegian counterparts.” Mr. Tham commented.

Going forward we foresee our oil and gas segment to be one of the leading growth drivers contributing to our profit growth and business expansion.” he further added.

ASIA BRANDS DELIVERS A RM70 MILLION REVENUE

PETALING JAYA, 15 AUGUST 2013 – Asia Brands Berhad (formerly known as Hing Yiap Group Berhad) (“ABB” or the “Group”) announced its first quarter results for its financial year ended 31 March 2014 (Q1FY14) with a revenue of RM69.99 million as compared to RM21.19 million for its corresponding quarter in the last financial year. For its current quarter under review, the Group registered a staggering increase in its profit after tax (PAT) to RM11.33 million from RM0.28 million in the same quarter last year. The significant increase in both revenue and net profit was mainly due to the consolidation of financial results of its newly acquired subsidiary companies within the Group that were acquired from Asia Brands Corporation Berhad. The acquisition was completed on 14 December 2012. The Group’s improvement in its bottomline was also attributed to a one-off gain from disposal of its properties.

Commenting on the results, Mr. Cheah Yong Hock, Group Chief Executive Officer said “Since the merger of the assets last year, we have been very focused and working extremely hard in delivering our goals and vision for Asia Brands and our financial results showed that we are working in the right direction so far.”

On 19 June 2013, ABB completed a private placement of up to 10% of its issued and paid up share capital, with the issuance of 7,192,400 new ordinary shares at an issue price of RM3.30 per share thus increasing the Group’s total issued and paid up shares to 79,117,214. This private placement exercise raised approximately RM23.73 million and the proceeds will be mainly used to pare down bank borrowings incurred for the acquisition exercise last year. The Group has since trimmed down its net gearing of 1.0 times to 0.7 times.

“The private placement was one of our structured exercises to increase our equity base and simultaneously allowing us to trim down our borrowings and reduce our net gearing. We are targeting to further reduce our net gearing before the end of our financial year” Mr. Cheah said.

Subject to the approval of shareholders at the forthcoming Annual General Meeting, the Board of Directors has recommended a payment of 5% final dividend less income tax for the financial year ended 31 March 2013.


About Asia Brands Berhad

Asia Brands Berhad (“Asia Brands” or the “Group”) is one of Malaysia’s leading brand conglomerate which owns and manages over 30 brands under its portfolio. Asia Brands is involved in baby products, casualwear, and innerwear. The Group is behind a number of Malaysia’s top leading brands such as Anakku, Audrey, BUM, Disney etc, to name a few.

For more information about the Group please go to www.asiabrands.com.my

OCK SUITING UP FOR REGIONAL EXPANSION
Proposed 10% Private Placement with LTAT

PUCHONG, 2 August 2013 – OCK GROUP BERHAD (“OCK” or the “Group”) Malaysia’s leading telecommunication network services company, today announced that it has entered into a subscription agreement with Lembaga Tabung Angkatan Tentera (“LTAT”) for the placement of 25.9 million shares, representing 10% of OCK’s issued and paid up capital. The placement shares has been fixed at an issue price of RM0.47 per placement share, which represents a discount of approximately 9.75% to the five day weighted average market price of OCK shares.

With the proceeds of RM12.173 million, the Group intends to utilise the funds for the group’s regional expansion plans and working capital.

In preparing the Group for regional expansion and business growth for its telecommunication segment, OCK has recently incorporated a subsidiary, OCK International Sdn, Bhd, as a holding company to the facilitate its overseas setup.
Starting its regional footprint OCK has established OCK Yangon Private Limited in Myanmar which has been issued with a Final Business License from the Ministry of National Planning and Economic Development of the government of the Republic of the Union of Myanmar.
“With LTAT investing in the Group, we foresee that there will be many business opportunities going forward with the government agency, in particular Ministry of Defense for their M&E works. Having a strong shareholder like LTAT gives the Group the leverage to further enhance the Group’s portfolio as well as regional expansion.” said Mr Sam Ooi, Managing Director of OCK.
In addition to the above Proposed Private Placement, the Group has also received approval from the authorities for the issuance of a RM150 million SUKUK.

Yinson appoints three (3) bankers for the financing of the proposed acquisition

KUALA LUMPUR, MALAYSIA 17 JUNE 2013 - YINSON HOLDINGS BERHAD (“Yinson”, the “Company” or “云升控股有限公司”), is pleased to announce that Maybank Berhad (“Maybank”), United Overseas Bank Limited, Singapore (“UOB”) and AmInvestment Bank (“AmInvesment”) (“Acquisition Loan”) are the committed financiers for the recently announced proposed acquisition of the Norwegian listed company Fred Olsen Production ASA (“Propoosed Acquisition”)
UOB is appointed as Facility and Security Agent of the Acquisition Loan and AmInvestment Bank is the Principal Adviser for this Proposed Acquisition. UOB and Amivesmtnet banks have been Yinson’s main bankers all these years, and the management is pleased to have their continuous support throughout the Company’s on-going expansion for the company.
Maybank is appointed as the Financial Adviser for this Proposed Acquisition and this is the first major deal to embark their working relationships.
“We are sincerely thankful to our financiers and advisers for their continued support throughout the process of this proposed acquisition. We are proud to be working with Maybank, being the biggest Bank in Malaysia. We look forward to establish a long-term working relationship with Maybank, and we believe that given their prominent track record and experience in the market, it will be a promising relationship going forwards,” commented Mr. Lim Han Weng (“林汉荣”), Managing Director of Yinson.
The total acquisition cost of RM576 million will be satisfied by the bank borrowing from Maybank, UOB and AmInvestment Bank of approximately RM400 million, with the balance of RM176 million to be funded through its proposed private placement, share issuance and internally generated funds.
About Fred Olsen Production ASA
FOP was incorporated in Norway in 1980 as a private limited company and became a public listed Norwegian company listed on the Oslo Stock Exchange in 2007. FOP and its subsidiaries own and operate a fleet of FPSO’s in the international oil and gas markets, as well as a MOPU for an oil company client. FOP currently has operating offices in Singapore, Norway, Nigeria, Gabon and Houston.

For further information, please log onto www.yinson.com.my or www.bursamalaysia.com.my

YINSON DONATES VND1.5 BILLION TO VIETNAMESE SCHOOL
YINSON OFFICIATES A HANDOVER CEREMONY OF A SCHOOL IN VIETNAM
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LY SON ISLAND, SOUTH VIETNAM, 31 May 2013 - YINSON HOLDINGS BERHAD (“Yinson”, the “Company” or “云升控股有限公司”) officiated a handover ceremony of An Vinh Primary School on Ly Son Island, in the Quang Ngau province of Vietnam, on 17 May 2013.

At this ceremony, Yinson Marine Services Sdn. Bhd, (“Yinson Marine”) a wholly-owned subsidiary of Yinson, donated a charitable fund of VND1.5 billion towards the renovation of the multi-purpose primary school which was in dire need of repair. Honored guests at the ceremony included the Vice-President of Vietnam, Mr. Nguyen Manh Kha and General Director of PetroVietnam Techincal Services Corporation (“PTSC”), Mr. Nguyen Hung Dung.

Yinson Marine, together with their long-term business partner PTSC, has bestowed a total of VND3 billion to a charitable fund which will be dedicated towards financial and capital expenditure requirements for schools within Ly Son Island.

A fraction of this VND3 billion fund has been used for renovation and other capital investments of the abovementioned An Vinh Primary School. Through these funds, the school has been able to restore their formerly deteriorating building and construct six new multi-purpose classrooms, a multifunctional hall, a library and a computer room, which has also been fitted with modern equipment.

Founded in 1999, An Vinh Primary School currently has approximately 613 students who are being taught by the local teachers in classrooms measuring 267 square meters occupying a two-storey building. Upon the completion of the renovation and expansion, An Vinh Primary School is the first within its district to reach the national level of requirements for schools.

“Having the ability to contribute back to our community – be it in Malaysia or Vietnam – is heart-warming. It is wonderful to see the gratitude and joy on the faces of all those involved. I believe that contributing to education is one of the most sustainable and organic ways to ensure a path of future betterment and success,” commented Mr. Lim Chern Wooi, Director of Yinson Marine who attended the ceremony.

For further information, please visit www.yinson.com.my or www.bursamalaysia.com.my

A STEADY PERFORMANCE FOR OCK’S Q1
OCK Group reports a revenue of RM 30.6 million
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PUCHONG, 28 May 2013 – OCK Group Berhad (“OCK” or the “Group”), one of Malaysia’s leading telecommunications network services provider today announced their financial results for the first quarter ended 31 March 2013 (“Q1FY13”) with a revenue of RM30.6 million, shy of RM5.5 million compared to its previous quarter (Q4FY12) of RM36.1 million. The comparatively lower revenue in this Q1FY13 was mainly due to completion of a project in previous financial year and also the expected lower activities in Quarter 1 as a result of lower roll-out work by the telco operators for the telecommunications network segment.

For Q1FY2013, OCK further reported a profit before tax (“PBT”) of RM3.2 million and profit after tax (“PAT”) of RM2.4 million.

There are no comparative figures for the preceding year’s individual corresponding quarter as the Group was listed on 17 July 2012.

Reporting on the Group’s segmental income, its core business telecommunications network services recorded a revenue and PBT of RM20.9 million and RM2.6 million, respectively, making up approximately 68.2% of the Group’s total revenue.

The Green Energy and Power Solution segment recorded a revenue of RM4.4 million and a PBT of RM0.12 million, with its PBT reporting an increase of 25.8% compared to its previous quarter. OCK’s Mechanical & Electrical engineering services also reported an increase in profit with a revenue of RM2.2 million and PBT of RM0.59 million – this represents an increase of 43.6% and 158.8% respectively as compared to its previous quarter.

Commenting on the Group’s operations performance, Mr. Sam Ooi, Group Managing Director said: “During the last quarter of 2012 we have been injecting our efforts into completing various projects such as the construction of the 40 sites of telecommunication network structures. We foresee that our efforts during this period will contribute positively to the Group earnings in the near future. With on-going technological advancements running across the industry and the recent 4G roll-out and expansion, the management is optimistic that the Group will continue to deliver favourable results for 2013.”

Ooi further added, “As part of our business expansion plans, we have been aggressively developing our Green Energy capabilities and bidding for projects in the construction of solar farms. We forecast that this segment will provide strong business growth for the Group as the Government is now heavily driving the green energy industry in Malaysia.”

FITTERS has entered into two separate sale and purchase agreements with a combined purchase consideration of RM44.7 million

KUALA LUMPUR, 27 May 2013 – FITTERS DIVERSIFED BERHAD (“FITTERS” or the “Group”), Malaysia’s largest fire protection and preventions solutions provider and manufacturer announced its financial results today for the quarter ended 31 March 2013 (“Q1FY2013”) with a reported revenue of RM69.8 million. For the quarter under review, the Group recorded a profit before tax (“PBT”) of RM11.7 million and a profit after tax (“PAT”) of RM8.5 million representing an increase of 95.4% and 89.1%, respectively from the last quarter.

Under the Group’s business segments, its Property Development and Construction took the lead as the Group’s main profit contributor with a revenue of RM42.5 million. This marks a staggering increase of 560% as compared to its corresponding quarter last year. The property segment PBT of RM9.6 million makes up approximately 82% of the total PBT for the quarter under review. This strong profit increase is attributed mainly to the sales of Zetapark Development, especially the “LOFT” Service Apartments which have been 100% sold out.

Fitters’ Fire Service and Renewable & Waste-to-Energy segments reported a revenue of RM22.6 million and RM3.9 million, respectively. The loss in profit in the Renewable & Waste-to-Energy segment for the quarter under review was due to the temporary halt in production in the existing palm oil mill for Q1FY2013; this was to allow for upgrading and expansion works to be undertaken. Production has now resumed as normal with full capacity at the palm oil mill.

PROPOSED ACQUISITIONS

In addition to the Group’s financial results announcement today, FITTERS has also announced that its subsidiary, FITTERS Property Development Sdn. Bhd. (“FPDSB”) has today entered into two separate sale and purchase agreements with Ebic Development Sdn. Bhd. (“EDSB”) for the acquisition of EDSB’s 100% equity interest in Rasa Anggun Development Sdn. Bhd. (“RADSB”) and in Superior Villa Sdn. Bhd. (“SVSB”) respectively, for a combined consideration of RM44.7 million.

RADSB had earlier entered into a sale and purchase agreement to purchase a leasehold land measuring 50 acres in Rawang (“the Rawang land”) for a purchase consideration of RM32.7 million. Subject to the completion of the acquisition by FPDSB of the 100% equity interest in RADSB and of the completion of RADSB’s purchase of the Rawang land, it is envisaged that the Rawang land will be eventually be developed by the Group in five phases with a total estimated gross development value of RM300 million. The first phase of the proposed development is expected to be launched by the end of 2013.

For FPDSB’s proposed acquisition of SVSB (which in turn, had earlier entered into a joint venture with the owner of a 2.8 acre piece of land off Jalan Ipoh. (“the Jalan Ipoh land”), this will enable the Group to develop, via SVSB, a condominium development on the Jalan Ipoh land. The proposed development will be of a low-density development that will consist of 284 units of apartments. This is expected to be launched by the third quarter of 2013.

“These proposed acquisitions are a strong addition to our strategic expansion plans laid out for our property development segment. For the Rawang Land development, we are targeting to launch the five phases within the next three years. These upcoming launch activities will positively add to our profit levels for this segment,” commented Dato’ Richard Wong, Group Managing Director.

Upon the completion of the proposed acquisitions RADSB and SVSB will become wholly-owned subsidiaries of FITTERS Property Development Sdn. Bhd.

For more information about the Company please visit www.fittersgroup.com

PETALING JAYA, 22 MAY 2013 – Today, Crest Builder Holdings Berhad (‘CBHB’ or ‘the Group’) announced its financial results for the first quarter of its financial year ended 31 December 2013 (‘Q1FY2013’) with a revenue of RM107.2 million. The Group reported a profit before tax (‘PBT’) of RM9.0 million – an increase of 44.4% compared to its preceding year quarter of RM6.2 million. The Group’s profit after tax (‘PAT’) recorded an increase of 39.5% with RM6.3 million, compared to its preceding year quarter of RM4.5 million; this translates to earnings per share of 4.7 sen.

Under CBHB’s segmental performance for Q1FY2013, its construction division makes up 92% of its total revenue for the quarter with a revenue of RM99.0 million, which is mainly due to the Unitapah project that has been recognised for the quarter under review. The Group’s construction division reported a PBT of RM7.3 million representing an increase of 45% compared to its corresponding first quarter last year.

The property development division recorded a revenue of RM5.9 million and a PBT of RM1.6 million, a comparative decrease from the results of its corresponding quarter last year of RM12.2.million and RM2.8 million respectively. This decrease in profit is due mainly to cost required for the completion of one of the Group’s property development projects, Alam Idaman, serviced apartments towards the end of the previous financial year.

With regards to its property investment, the division reported a revenue of RM2.3 million and a PBT of RM0.1 million. The Group’s Tierra Crest development office towers will physically be occupied in September 2013 with UNITAR’s scheduled student intake.

In the pipeline for 2013 is the Group’s RM1.04 billion Dang Wangi project which aims to kick-off its physical works during the second half of FY2013. “We have officially signed the Joint Land Development Agreement with Prasarana for this mixed development project. So with final administration underway everything should be in order and set to go within the next few months” commented Eric Yong, Executive Director of Crest Builder Holdings Berhad.

“The management is confident that the Group will continue to deliver healthy financial performances for FY2013, with our various projects advancing along smoothly.. We are actively bidding for projects from various opportunities available to the Group with an estimated tender book of RM6.0 billion,” he added.