In Q3 2024, the market saw the strengthening of the Malaysian Ringgit (RM) against US Dollar (USD), with exchange rates at 4.11 as of 30 September 2024, compared to 4.72 on 30 June 2024, resulting in an unrealized forex loss incurred by Cahya Mata Phosphates Sdn Bhd (Cahya Mata Phosphates) which operates with a USD functional currency while holding RM-denominated shareholder loans. This also led to the Group reporting a loss before tax (LBT) of RM23.4 million for Q3 2024, compared to a profit before tax (PBT) of RM50.3 million for Q2 2024. It is important to note that this result was significantly impacted by an unrealized foreign exchange (forex) loss of RM74.9 million due to the revaluation of shareholder loans to Cahya Mata Phosphates. Excluding this unrealized forex loss, the normalized PBT for Q3 2024 is estimated to be RM51.5 million, in contrast to the LBT reported by the Group.
The unrealize loss was - RM 74.9m based on exchange rate recorded in Q3 is RM 4.11. These rate have since recover to RM 4.46 now. Hence, as much as RM 40m will be write back in next Q4
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
sivapakiam311056
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Posted by sivapakiam311056 > 2 months ago | Report Abuse
news is that will be good for all construction counters, especially for sarawak counters