KUALA LUMPUR, May 27 — OSK Holdings Bhd’s net profit for the first quarter ended March 31, 2021 (Q1), increased to RM116.41 million compared with RM77.16 million recorded in the same period last year.
Revenue rose to RM324.96 million from RM255.73 million previously, it said in a filing with Bursa Malaysia.
OSK is an investment holding company with a focus on property development and investment; financial services; construction; industries; and hospitality.
The company said the higher profit and revenue were recorded as all segments within the group recorded better results with the exception of its industries segment.
“The industries segment continues to tap into private and public sector projects undertaken by its existing customers.
“The segment will continue to focus on expanding its customer base via sales and marketing strategies including new product offerings and continuous research and development to improve its existing products,” it said.
The group also said that with the rising number of Covid-19 cases and re-implementation of the movement control order (MCO) since the beginning of 2021, certain economic activities are expected to remain challenging in the current financial year.
It anticipates the property, retail and hospitality sectors to continue to be volatile and uncertain. — Bernama
