Fajarbaru's net profit up 23% in 3Q2010

PETALING JAYA: Fajarbaru Builder Group Bhd’s net profit rose 23.4% to RM6.553 million in its third quarter ended March 31, 2010 (3Q2010), from RM5.311 million in the same period last year.

Revenue for 3Q2010 jumped 26% to RM43.448 million from RM34.478 million recorded in the same quarter last year.

In a filing to Bursa Malaysia on April 27, Fajarbaru said no dividend has been declared for 3Q2010.

In a separate filing, Fajarbaru said it has appointed Tan Sri Chai Kin Kong as executive director of the group. Chai, 51, is a businessman and has been involved in the timber industry for more than 30 years in Kelantan, Pahang, and Sabah.

“He also has wide experience in the hospitality industry and property development in the Klang Valley and Sabah,” Fajarbaru said.

Chai is one of the executive directors of Sanbumi Holdings Bhd and also sits on the board of KLC Forest Plantation Bhd.