TA Enterprise suffers loss in 3Q on lower earnings from property development, investment holdings

KUALA LUMPUR (Nov 21): TA Enterprise Bhd posted a net loss of RM14.94 million for the third quarter ended Sept 30, 2019, compared with a net profit of RM14.34 million a year ago, mainly due to lower earnings from the property development and investment holdings divisions.

Quarterly revenue decreased by 65.18% to RM239.63 million from RM688.12 million last year, the group said in a filing with Bursa Malaysia.

For the cumulative nine-month period, the group said its net profit fell 46.19% to RM129.63 million from RM240.89 million in the same period last year.

Revenue for the period also dropped 65.12% to RM691.36 million from RM1.98 billion previously.

The share price of TA Enterprise closed unchanged at 61 sen, valuing the group at RM1.05 billion.

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