Asian Pac post pre-tax loss of RM1.06mln

KUALA LUMPUR: Asian Pac Holdings Bhd posted a revenue and pre-tax loss of RM7.25 million and RM1.06 million respectively for its first quarter (1Q) ended June 30, 2010, the group announced on Tuesday, Aug 24.

For the same period a year ago, it posted a pre-tax profit of RM9million, while revenue then stood at RM38.3 million.

It said on Tuesday, Aug 24 that the decrease in revenue and pre-tax profit were mainly due to lower revenue recognised for development activities, the effect of adopting FRS 139 and higher provision of doubtful debts.

As some its development activities are still pending authorities approval, the group expects its result for the remaining financial period to be moderate.
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