It must be good if there is any new substantial shareholder could emerge.... Just a hope..

Personally, I think my targetd timeframe is before 31 Oct 2024. Tayor

Have to be a midterm bilis investor here.....
Be patience for those who can... He He He

I am glad to digest this reports. Tayor.

......On 2 May 2024, Bursa Securities granted an extension of time of six (6) months up to 31 October 2024 to submit its regularisation plan to the relevant regulatory authorities. The Group is in the process of formulating the Proposed Regularisation Plan for submission.

----The Group is in the midst of evaluating and formulating its proposed regularisation plan to streamline its financial conditions and improve the Group’s performance.

Current situation in Itronic. Not so good situation, I think...

No more substantial shareholders in the company.
and
Directors who manage the company without holding any substantial share shareholding.

Lately,

Bluemount Investment Fund ceased to be substantial shareholders (on 13.6.2024)
and
Executive Director Chu Boon Tiong on 20.6.2024 trimmed his shareholding for just only @8,045,760 units of share or 1.137% of shareholding.

Based on Anual Report 2023.

ANALYSIS OF SHAREHOLDINGS as at 29 September 2023
1. MAYBANK SECURITIES NOMINEES (ASING) SDN BHD
EXEMPT AN FOR MAYBANK SECURITIES PTE LTD (A/C 648849)- For Bluemount Investment Fund 211,658,700 29.913%
2. AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD.
PLEDGED SECURITIES ACCOUNT FOR CHU BOON TIONG (Executive Director) 29,078,160 4.109%
3. YEO HONG CHYE 15,522,800 2.194%

ANALYSIS OF WARRANT A HOLDINGS as at 29 September 2023
1. MAYBANK SECURITIES NOMINEES (ASING) SDN BHD
EXEMPT AN FOR MAYBANK SECURITIES PTE LTD (A/C 648849) - For Bluemount Investment Fund 84,375,000 41.658%
2. AFFIN HWANG NOMINEES (TEMPATAN) SDN. BHD.
PLEDGED SECURITIES ACCOUNT FOR CHU BOON TIONG (Executive Director) 25,626,000 12.652%
3. TYE LIM HUAT 7,500,075 3.703%

Anyways...
I think Bluemount Investment Fund (which ceased to be substantial shareholder on 10 Jun 2024) could be the culprit of yesterday's sell off...
As per my observation, the said investor could still has around 10 mil shares on the date of ceasing announcement.

TAYOR

Not an insider. Only a very small retailer who keep guessing, searching and doing some analysis of my targeted counter to invest in.... TAYOR

Details of corporate proposal Private placement of up to 20% of the total number of issued shares of Kanger International Berhad
No. of shares issued under this corporate proposal 30,000,000
Issue price per share ($$) Malaysian Ringgit (MYR) 0.0535
Listing Date 01 Jul 2024

Any party/parties is/are closing their fund invested in Itronic??
or
Any bad news about the company will occur later??

Anyways,,,
I am expecting for the next cycle of GORENG for Kanger......
Just a simple theory.. The price probably not going far below the issue price for the PP shares....
TAYOR...

@whistleblower99... Thanks for your perception on Kanger.
For me, its 70 percent true...
But... I still have some hope on this company....
Still has a room and possibility to be a GORENG COUNTER....

Hope I should not wait too long for that time...
TAYOR.

@whistlebower99. Big loss @Nexgram, Exited Kanger with a big reducing amount of losses but reentered back some, early 2024 gained big @ itronic and itronic w and gained substantial amount @Wegman W...

Overall, already recovered +-80 percent of my initial investment.....

Year 2024 is a good year for my investment.. Hope will be better...

Finally....
On behalf of the Board, UOBKH wishes to announce that the Board had on 25 June 2024 resolved to fix the issue price for the Private Placement at RM0.0535 per Placement Share.

Base on my BRIEF study on the latest QR4 2024 of XoxTech:

A: The company is improving its profitabilty.

B. Sitting on accumulated profit of RM 22,813,000.
- Recorded net profit for four latest consecutive quarters.This QR4 2024 recorded a record- high quarterly profit after tax.

- Revenue PBT Net Profit EPS NTA QoQ(%) YoY(%)
44,073K 8,712K 3,433K 0.38sen 4.6sen Up 403% Up 192%

- PE just 6.25 (Median PE for total peers of 8 is 79.58)

C: A nett cash company of RM 20.95 milion and free cash flow of RM80.57 milion.

D. Total assets > Total liabilities, Total current assets > Total current liabilities and Total non-current liabilities only amounting RM 310,000.


THE FINDINGS:

1. NTA 4.6 sen (up from 3.9 sen @ QR3 2024)
2. NOSH 896.18 mil.

3. EQUITY
Share capital RM 17,054,000
Treasury shares (RM 566,000)
Other reserves (RM 15,789,000)
Accumulated profit / (loss) RM 22,813,000
Equity attributable to owners
of the Company RM 23,512,000
Non-controlling interests RM 17,118,000
TOTAL EQUITY RM 40,630,000

4. Cash and Cash Equivalent:
Fixed deposit with licensed banks.
cash and bank balances RM 18,788,000

5. Assets:
Current Assets RM 89,244,000
Non-current Assets RM 4,587,000
TOTAL ASSETS RM 93,831,000

6. Liabilities:
Current Liabilities RM 52,891,000
Non-current liabilities RM 310,000
TOTAL LIABILITIES RM 53,201,000

7. QR4 2024 result:
Revenue RM 44,073,000
Gross profit RM 11,225,000
Profit before tax RM 8,712,000
Net profit RM 3,433,000

Note 1:

The Group registered revenue of RM44.1 million in this quarter ended 31 March 2024 which mainly contributed by mobile solution services segment at RM43.3 million, RM0.3 million from Cloud Service Solutions segment and RM0.5 million from other revenue segment.

Pakistan contributed RM40.0 million in this quarter and total of RM152.8 million for this financial year ended 31 March 2024 or approximately 91.3% of total revenue, where RM13.9 million from Malaysia and remaining from Dubai.

The Group recorded profit before tax of RM8.7 million for this quarter and a total of RM30.2 million for the year ended 31 March 2024. The profit was mainly generated by Pakistan.

Note 2:

The Group recorded a decrease in revenue of RM2.9 million to RM43.3 million in the current financial quarter compared to preceding quarter of RM46.2 million. This is due to the banking industries in Pakistan reduced the broadcast via SMS services.

The Group recorded a profit before tax of RM8.7 million in current financial quarter compared to preceding quarter at profit of RM8.6 million and profit after tax of RM5.6 million in current financial quarter compared to preceding quarter at profit of RM3.4 million.

Note 3: Prospects

The Group also shift the focus from banking and financial institutions to other businesses available in the markets such as retail stores, transportation and hotel etc. which update their customers or users via SMS Services.

The display panel business continues to grow and received an increase in enquiries on rental of the panels which highly being used during the events.

The Group also received enquiries on software developing or customising from the markets, which help to expand the Group’s revenue segment and diversify the business risks by reducing dependence on existing business segment in the Group.

Anyway,
I am expecting for the next cycle of GORENG for Kanger......
For me the price should not fall much below than 5.5 sen... If they want the PP successfuly done.
Better now or soonerr!!!

TAYOR

Base on my BRIEF study on the QR2 2024 of Kanger:

Summary:
The company
A: Sitting on negative reserve.

B. Recorded net loss for the last TWO consecutive quarters.
QoQ, revenue down and net loss widened.

C: Not a cash rich company.

D. Total assets > Total liabilities, Total current assets > Total current liabilities: Means still has a low indebtedness risk.

E. Has nil non-current liabilities: Means has more oppurtunity to take a loan to finance its future project / investment.


THE FINDINGS:

1. NTA 31 sen (down from 45.1 sen @ last QR1 2024).
2. NOSH 731.58 mil.

3. EQUITY
Share Capital RM 433,234,000
Reserves / (accumulated losses) (RM 206,530,000)
Shareholders’s equity RM 226,704,000
Non-Controlling Interest RM 0
TOTAL EQUITY RM 226,704,000

4. Cash and Cash Equivalent:
Cash and bank balances RM 560,000

5. Assets:
Current Assets RM 36,431,000
Non-current Assets RM 204,544,000
TOTAL ASSETS RM 240,975,000

6. Liabilities:
Current Liabilities RM 14,271,000
Non-current liabilities RM 0
TOTAL LIABILITIES RM 14,271,000

7. QR2 2024 results :
- Revenue RM 9,969,000 (down from QR1 2024 of RM20,691,000)
- Gross profit RM 1,985,000
- Net profit / (loss) (RM 1,464,000) (up from QR1 2024 loss of (RM382,000)

Note 1:

Revenue decrease by RM13.3 million in current financial quarter ended 31 March 2024 (“Q2 2024”) as compared to the corresponding quarter ended 31 March 2023 (“Q4 2023”) which was mainly due to significantly decrease in the sales generate from Sung Master Holdings Sdn Bhd on trading of building materials. Besides, Q2 2024 has recorded loss after taxation of RM0.7 million as compared to the profit of RM1.6 million in Q4 2023. This was mainly due to loss on disposal of motor vehicles which has contributed a total of RM1.1 million in current financial quarter.

Note 2:

The Group recorded loss after taxation of RM0.7 million as compared to profit after taxation of RM0.6 million in Q1 2024. The loss was recorded in Q2 2024 was mainly due to non-recurring expenses such as loss on disposal of motor vehicles of RM1.1 million.

Stabilising @19.5 - 20.5 sen....

Anyway,
I am expecting for the next cycle of GORENG for Kanger...... Better soon or never!!!

TAYOR

Wow.. Ponda.man is coming back from the cave!!!
Goyang jangan tak goyang dik...

Anyway,
I am expecting for the next cycle of GORENG for Kanger...... Better now or never!!!

TAYOR

Posted by MZM2511 > 2 months ago | Report Abuse

Not necessary... It's up to the company's insiders objectives or depend on how they want to play a game. For me the price should not fall much below than 5.5 sen... If they want the PP successfuly done. TAYOR.

Nearer... Getting nearer for a party???? TAYOR

Monitoring next few days trading volume... Also waiting for any announcement. The cloud will look more clearer. TAYOR

@BE_GREEEEEEEEEEEEEEEDY... Good! Very positive vibe..

I think the next cycle of GORENG is nearer.
The market condition is more conducive... The price of PP share has to be determined.

TAYOR

Just a guessing... Hope not!!!

Hope it's only the operator activity...
Whether to closed their fund @Itronic or
A PRELUDE TO THE NEXT GORENG ACTIVITY. TAYOR

Looks like big brother disposing shares??

Fajar performances based on its last three quarterly reports: All are uptrending!!!!

F.Year Quarter Revenue PBT N.Profit EPS Div NTA QoQ(%) YoY(%)
30.6.24 QR3 24 142,647K 29,123K 27,188K 3.67 0.50 0.563 UP42% UP1324%
30.6.24 QR2 24 126,793K 24,409K 19,193K 2.59 0.00 0.523 UP585% UP1177%
30.6.24 QR1 24 72,977K 3,391K 2,801K 0.38 0.50 0.499 UP114% UP42%

The Construction segment of the Group remains dedicated to ensuring the efficient and timely completion of our ongoing projects. These encompass a diverse range, including high-rise residential buildings, apartments, retail complexes, golf club house, and the redevelopment of military facilities. We anticipate that these projects will contribute positively to the Group's future earnings and net assets per share, starting from the financial year ending 30 June 2024, and extending thereafter. Currently, our order book stands at approximately RM1.10 billion, with RM117 million consists of internal development projects. We are actively pursuing new construction opportunities through tendering processes in both the private and government sectors, with a combined value of RM4.8 billion.
----
Have to read the info entirely... For me about the construction sector prospects, we can read the important statement by the company.

"We anticipate that these projects will contribute positively to the Group's future earnings and net assets per share, starting from the financial year ending 30 June 2024, and extending thereafter."

TAYOR...

Property Development segment reported revenue of RM99.05 million and profit before tax of RM33.40 million in the current quarter, compared to revenue of RM17.70 million and profit before tax of RM5.57 million in the preceding year corresponding quarter.
The surge in revenue and profit before tax in the current quarter were mainly contributed from Vierra Residence @ Kinrara development project where it showed incremental growth in the development work progress as compared to preceding year corresponding quarter.

Construction Segment
Construction segment reported revenue of RM40.08 million and loss before tax of
RM3.06 million in the current quarter, compared to revenue of RM28.42 million and
loss before tax of RM2.76 million in the preceding year corresponding quarter.
Higher revenue registered in the current quarter was mainly due to the newly awarded projects had started to progressively contribute revenue to the segment. The loss before tax in the current quarter was mainly due to higher operating expenses as compared to preceding year corresponding quarter.

The Group recorded revenue of RM142.65 million and profit before tax of RM29.12
million in the current quarter, compared to revenue of RM46.66 million and profit
before tax of RM3.30 million in the preceding year corresponding quarter. The higher
revenue was mainly contributed by Property Development and Construction segments,
whereas, the profit before tax was mainly attributed by the Property Development
segment.

@Iwillbeback. I'm new here @ this counter. Feel interested lately after the company reported its stellar QR3 24.
Do some research and joined the counter....

EPS (TTM) only @ 4.00.
For peer to peer comparison: Median PE @ 8.06

Stabilising @ 5.5 - 6.5 sen...
Be patience... The time will come...

2.5 sen.....

-ve + +ve = Spark BOOOOOOM. He He he

Furthermore, Kangers's balance sheet is better than Permaju's.

@Joe

Look at this comment on Permaju..
Good123

Syer consolidation coming... 100:1---> rm4.50 hahaha

1 week ago

OKU_2020 @Pon danman always come to "Goyang-Goyang".

Jom Dangdut... Ah Ah Ah

OKU_2020 @Pon danman and JJPTR always come to "Goyang-Goyang".

Jom Dangdut... Ah Ah Ah

Gross profit / (loss) (RM 1,516,000)
Other operating income RM59,306,000.... (Fuyyooo.. At last.... This item is a magical figure from the art of accounting. He He He)

Note: If not BPuri will continously recorded a big loss such as shown in their last every 14 consecutive quarters.

Note 1:

For 1Q 2024, the Group posted revenue of RM9.585 million mainly contributed by the orders delivered from the manufacturing segment of medical/ healthcare beds, medical peripherals and accessories. Geographically, the local market remains as the largest revenue contributor at RM8.391 million or 87.54% of the group revenue where the remaining revenue of RM1.194 million or 12.46% of the group revenue was generated from exports, mainly from other Asian region for the 1Q 2024.

The Group reported a gross profit of RM3.773 million and gross profit margin of 24.54% for the current financial period.

The Group posted a LBT of RM7.227 million for the current financial period mainly due to losses in the fair value on investment in quoted shares of RM5.186 million, depreciation and lease expense of RM1.755 million and interest expense of RM0.414 million. In addition, the pharmacy operations incurred a loss before tax in the current quarter of approximately RM0.937 million. However, excluding the effects of losses incurred by the pharmacy business and the fair value loss of quoted investments, the Group generated positive EBITDA of approximately RM1.065 million for the current quarter.

Note 2:

The Group’s revenue for the current financial quarter under review decreased as compared to preceding quarter, from RM15.940 million to RM9.585 million, due to lower sales of medical peripherals and accessories due to lower project sales in the current quarter.

The Group registered a loss before tax of RM7.227 million in the current financial quarter as compared to profit before tax of RM4.147 million in 4Q 2023 which was mainly due to fair value loss on investment in quoted shares of RM5.186 million. On the contrary, the preceding quarter recorded a fair value gain on investment of RM3.769 million.

Note 3: Prospects

Despite all the challenges and difficulties faced by the Group, we are committed to ensuring the Group’s long-term growth by continuously exploring and pursuing available opportunities that are prospective in increasing shareholders’ value. Looking ahead, the Group strives to improve the sales volume by expanding and offering a wider variety of medical devices to our customers.

The Group continues to leverage its long-term strategic relationships with the existing and potential business associates and partners that would improve the business process efficiency and cost-effectiveness. The Group also continues to pursue progress in its joint venture arrangements to meet its objectives.

Broadening our distributorship scope, we believe the existing engagement with SECA and MEDITOP’s products enables us to further introduce more medical devices to the market. We strive to build a more resilient organisation, upholding operational efficiencies and sustainable initiatives to navigate through business challenges, thereby reinforcing our position as a reliable, one-stop solutions provider to the medical and healthcare industry.

Base on my BRIEF study on QR1 2024 (The latest QR) of LKL:

(Note: A comparative info from QR4 2023 included)


The summary on the company from QR1 2024:

A: The profitabilty of this quarter compared to the last QR4 2023 substatially dropped.

B. Still sitting on a negative reserve.

C: A cash rich company with RM 25,014,000 cash and cash equivalent.

D. Total assets > Total liabilities (Reduced total liabilities), Total current assets > Total current liabilities: Means still has a low indebtedness risk.


THE FINDINGS

1. NTA 42.0 sen _ , QR4 2023 @ 44.0 sen
2. NOSH 388.06 mil _ , QR4 2023 @ 388.06m

3. EQUITY
Share capital RM 240,262,000 _ , QR4 2023 @ RM240,262,000
Merger deficit (RM 29,580,000) _ , QR4 2023 @ (RM29,580,000)
Accumulated losses (RM 46,253,000) _ , QR4 2023 @ accumulated losses of (RM 39,021,000)
Equity attributable to owners of the Company RM 164,429,000 _ , QR4 2023 @ RM 171,661,000
Non-controlling interests ( RM 633,000) _ , QR4 2023 @ (RM 638,000)
TOTAL EQUITY RM 163,796,000 _ , QR4 2023 @ RM 171,023,000

4. Cash and cash equivalent:
Fixed deposit with licensed bank RM 20,534,000 _ , QR4 2023 @ RM 20,380,000
Cash and bank balances RM 4,480,000 _ , QR4 2023 @ RM 16,190,000

5. Assets:
Non-current Assets RM 122,855,000 _ , QR4 2023 @ RM 115,876,000
Current Assets RM 69,041,000 _ , QR4 2023 @ RM 97,952,000
Assets included in disposal
group classified as held for sale RM 5,913,000 ¬_ , QR4 2023 @ RM 11,811,000
TOTAL ASSETS RM 197,809,000 _ , QR4 2023 @ RM 213,828,000

6. Liabilities:
Current Liabilities RM 25,583,000 _ , QR4 2023 @ RM 34,138,000
Non-current liabilities RM 8,430,000 _ , QR4 2023 @ RM 8,666,000
TOTAL LIABILITIES RM 34,013,000 _ , QR4 2023 @ RM 42,805,000

7. QR1 2024 Results
Revenue RM 9,585,000 _ , QR4 2023 @ RM 15,940,000

Profit before tax / (Loss) (RM 7,227,000) _ , QR4 2023 @ RM 4,147,000

Net profit / (Net loss) (RM 7,232,000) _ , QR4 2023 @ RM 44,000

A ten years of BPuri history told us:

1. Before this, BPuri have won projects worth billion, but BPuri have lost four years in a row.
2. Since 10 years ago, BPuri's NTA from RM1.00 has become 2.2 sen... BPuri's management is not good in making money for BPuri...
3. Continously, BPuri was good at making losses and increasing NOSH only.
4. To maintain financial and operations stability, BPuri did private placements and RI.
5. To be safer from the risks of PN17, BPuri is proposing to do a share consolidation exercise.

@JJPTR...
One thing obvious is after that 145m rgt purchase, Kanger cash had been below 1m for few qtrs, there were qtrly loses, how did Kanger manage to do another 15 new purchases recently?
----
This announcement is dated 7 November 2023
https://www.malaysiastock.biz/Company-Announcement.aspx?id=1519668

Still can't see any info about the completion of this proposed acquisition...

As per this announcement...

"The obligations of the parties under the Agreement are in all respects conditional upon the following being fulfilled on or before six (6) months from the date of the Agreement or such other extended as may be agreed between the parties (hereinafter referred to as the “the Cut-Off Date”):–
(a) Purchaser having obtained the approval of its shareholders at an extraordinary general meeting to be convened for the sale and purchase of the Purchaser Units. Within five (5) business days after the conclusion of Purchaser’s extraordinary general meeting, Purchaser shall obtain and forward to the Developer’s Solicitors three (3) certified true copies each of Purchaser’s members’ resolution authorising Purchaser to enter into the Agreement and its execution and performance of the Agreement and all the other relevant documents pursuant to the Agreement or otherwise pertaining to the transactions contemplated by the Agreement; and
(b) any approvals, waivers or consents from any relevant authority or parties as may be required by law or regulation or deemed necessary by the parties to facilitate the sale and purchase of the Purchaser Units (if required).
7.2
If any of the conditions set out in Clause 3A(1) are not satisfied by the Cut-Off Date (not due to a default of any party), then either party will be entitled to issue a notice of termination to the other party and thereafter whereupon the Developer shall refund all monies paid by Purchaser to the Developer for its account as part of the Total Consideration Sum free of interest within thirty (30) days from the date of notice of termination.

The Agreement shall become unconditional on the day upon which the conditions have been fulfilled in accordance with the provisions of the Agreement or on such other date the Developer and/or Purchaser confirm in writing that the conditions have been fulfilled, whichever shall be earlier (hereinafter referred to as the “Unconditional Date”)

Jus for dear friend SincereStock..
https://www.isaham.my/sector/new-shariah

@JJPTR (the naysayer)... You better search for the news yourself.
Changed the tune after been caught to be spreading the false information... Yeah

Sell on news mentality... He He He

Dividend of 0.5 sen per ordinary share in respect of the financial year ended 31 December 2023 has been paid on 26 March 2024.

Base on my BRIEF study on the QR3 2024 (The latesr QR) of Itronic:

(Note: A comparative figures from QR2 2024 included)


A: Sitting on negative reserve / accumulated loss widend to RM 8,046,278.

B: Not a cash rich company.

C. Total assets > Total liabilities, Total current assets > Total current liabilities, and has a small non-current liabilities only @ RM 1,089,007 – Means still has a low indebtedness risk.

D. Revenue up tremendously from the last quarter and the gross loss and net loss were decreased.


THE FINDINGS:

1. NTA 5 sen _ , QR2 2024 @ 5 sen.
2. NOSH 707.59 mil. _ , QR2 2024 @ 707.59 mil.

3. EQUITY
Share Capital RM 43,472,963 _ , QR2 2024 @ RM 43,472,963
Reserves / (accumulated losses) (RM 8,046,278) _ , QR2 2024 @ (RM 7,735,583)
Shareholders' funds RM 35,426,685 _ , QR2 2024 @ RM 35,737,380
Non-Controlling Interest RM 0 _ , QR2 2024 @ RM 0
TOTAL EQUITY RM 35,426,685 _ , QR2 2024 @ RM 35,737,380

4. Cash and Cash Equivalent:
Cash and bank balances RM 4 ,517 _ , QR2 2024 @ RM 1,441,030

5. Assets:
Current Assets RM 74,109,474 _ , QR2 2024 @ RM 73,506,067
Non-current Assets RM 15,224,293 _ , QR2 2024 @ RM 15,301,611
TOTAL ASSETS RM 89,333,767 _ , QR2 2024 @ RM 88,807,678

6. Liabilities:
Current Liabilities RM 52,818,075 _ , QR2 2024 @ RM 51,924,835
Non-current liabilities RM 1,089,007 _ , QR2 2024 @ RM 1,145,463
TOTAL LIABILITIES RM 53,907,082 _ , QR2 2024 @ RM 53,070,298

7. QR3 2024 results - Revenue RM 16,881,800 _ , QR2 2024 @ RM 6,962,162
- Gross profit / (loss) (RM 485,678) _ , QR2 2024 @ (RM 2,111,163)
- Net profit/(Net loss) (RM 2,161,615) _ , QR2 2024 @ (RM 3,360,151)

Note 1:

For the current quarter and year-to-date period ended 31 March 2024, the Group reported revenue of RM16.88 million and RM54.06 million respectively. Among these RM54.06 million, 99.31% was generated by the Hong Kong subsidiary, which primarily engages in the sales of watches. Malaysia operation which focusing on electronics & system integration operation, contributed RM0.12 million for the current quarter and RM0.37 million for year-to-date ended 31 March 2024.

For the current quarter and year-to-date period ended 31 March 2024, the Group incurred a loss before tax of RM2.16 million and RM5.00 million, respectively. The higher losses for the period ended 31 March 2024 primarily due to increased operating expenses resulting from accounting adjustment, particularly the recognition of an unrealised loss of RM2.13 million on outstanding debts owed to creditors. In addition, finance cost amounting to RM0.97 million mainly from third parties borrowing, have further increased overall loss
impact on the Group's financial performance.

Note 2:

The Group experienced a significant increase in revenue, rising from from RM6.96 million to RM16.88 million, reflecting a growth of RM9.92 million or 142%. This growth was primarily attributed to improved sales from watch operation. The Group recorded a slightly higher loss before tax of RM2.16 million compared to RM2.11 million in the preceding quarter mainly due to a decrease in profit contribution from associate, which amounted to RM0.01 million for the current quarter as compared to RM0.09 million in preceding
quarter.

Note 3: Prospects

The Group anticipates that its performance for the financial year ending 30 June 2024 will be satisfactory in view of the improved sales performance in the watches trading segment. The Group will continue to focus on improving its e-commerce platform to deliver better user experience and increase customer satisfaction.

The Group intends to penetrate into new markets by establishing Halal Food & Beverage restaurants and Halal Convenience Stores in Hong Kong. Addtionally, the Group has entered into a Project Management Contract to serve as the Project Management Company for the proposed development of hotel and golf course in Pulau Langkawi. The Board believes that these business will generate positive cash flow for the Group and contribute to enhancing shareholders' value.