KUALA LUMPUR, July 24 — I-Berhad (I-Bhd) recorded slightly higher net profit of RM22.31 million for the second quarter (Q2) ended June 30, 2018, from RM21.11 million in the same period last year.
In a filing with Bursa Malaysia, it said revenue fell to RM107.16 million from RM131.94 million previously due to lower contributions from the property development and leisure segment.
“The hike in profit margin for the current quarter arises from the cost adjustment as a result of the changes in the national tax regime,” it said.
In a separate statement, executive chairman Tan Sri Lim Kim Hong said the company expects to see continued sales for the 8-Kia Peng@KLCC condominium in Kuala Lumpur, in contrast to last year, which in turn would provide growth to I-Bhd this year.
“It is also worth noting that 2018 will be an exciting year for the property investment segment with the imminent completion and opening of the Central i-City shopping centre this coming year-end,” he added.
Currently, I-Bhd’s unbilled sales as at June 30, 2018, stood at RM305.4 million. — Bernama
