Farlim Group records net loss of RM180,000 for 1Q2010

KUALA LUMPUR: Farlim Group recorded a loss of RM180,000 in 1Q ended March 31, 2010, compared with a net profit of RM1.043 million in the corresponding quarter a year ago.

Revenue dropped by 46.4% during the current quarter under review, with RM13.757 million compared with RM25.665 million in the same period a year ago.

In a listing on Bursa Malaysia on May 21, the company said the loss was attributed to the property development and construction activities of the group. Farlim also stated that barring any unforeseen circumstances, it will continue to improve efficiency and productivity.

The group's principal activity is property development. It provides housing and commercial units, as well as infrastructure and facilities, such as schools, markets, hawker centres, government clinics, community halls and petrol service stations. Operations are carried out principally in Malaysia.