Kim Hin announces trading suspension pending announcement

• Kim Hin has been in the red since the financial year ended Dec 31, 2018.

KUALA LUMPUR (July 4): Kim Hin Industry Bhd (KL:KIMHIN) said trading in the loss-making company's shares will be suspended on Friday, pending an announcement.

Bursa Malaysia Securities has approved the company's request for the trading suspension, said the ceramic tile manufacturer in a filing on Thursday.

Kim Hin shares closed up one sen or 2.22% to 46 sen on Thursday, giving the company a market capitalisation of RM72 million.

Kim Hin has been in the red since the financial year ended Dec 31, 2018 (FY2018). For FY2024, the net loss narrowed to RM28.19 million, from RM40.13 million in FY2023, while revenue rose to RM311.25 million from RM310.12 million. The reduced loss was attributed to lower impairment loss on the company's non-current assets of RM6.9 million, compared with RM14.7 million in FY2023.

Meanwhile, Kim Hin reported a quarterly net loss of RM3.42 million for 1QFY2025, compared with RM3.18 million for the previous January-March quarter. Quarterly revenue fell 26.5% to RM58.25 million from RM79.39 million due to significantly reduced sales in the Malaysia and Australia geographical segments.

Kim Hin’s cash and cash equivalents stood at RM43.13 million as at end-March, increasing from RM35.5 million a year before. The company had retained earnings of RM64.05 million.

Total loans and borrowings, meanwhile, stood at RM11 million, of which RM9.06 million was under current liabilities.  

Kim Hin (Malaysia) Sdn Bhd, the investment vehicle of the Chua family, controls a 61.459% stake in the company.

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