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Focal Aims records 4Q net loss of RM771,000

KUALA LUMPUR: Focal Aims Holdings Bhd reported a net loss of RM771,000 compared to a net loss of RM2.86 million a year ago for its fourth quarter (4Q) financial results ended Sept 30, 2010, the group announced on Monday, Nov 29.

Revenue earned however, increased by 47% to RM15.13 million from RM10.27 million a year ago.

The group attributed the decrease in net loss to more income recognised as a result of higher percentage cost of completion being recognised for the properties under construction, and also properties sold in the Klang Valley, which have a higher profit margin.

The basic loss per share for the quarter was 0.30 sen from a loss of 1.13 sen a year ago. The net assets per share dropped to RM1.17 from RM1.19 for the preceding financial year end.

Focal Aims is an investment holding company that engages in property development, with projects that include Saujana 0-Lot and Kota Masai.
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