Gopeng Bhd posts net loss of RM51.3m in 3Q

KUALA LUMPUR: Gopeng Bhd has posted a net loss of RM51.3 million for its third quarter (3Q) ended Sept 30, 2010 from a net profit of RM9.93 million a year ago, due to provision of impairment for its associate Perak-Hanjoong Simen Sdn Bhd.

It a filing to Bursa Malaysia on Wednesday, Nov 24, the group posted revenue of RM2.9 million, slipping from RM3.2 million a year ago.

Basic losses per share stood at 28.6 sen, from earnings per share of 5.54 sen.

The group expected to maintain its performance in the next quarter, and noted that the proposed disposal of its entire stake in Perak-Hanjoong will allow it to unlock and crystalise the value of its investment, thus bolstering its cash position.