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Karambunai Corp 2Q net loss of RM11.8m

KUALA LUMPUR: Karambunai Corp Bhd recorded a net loss of RM11.78 million compared to a net loss of RM3.56 million a year ago in its second quarter (2Q) financial results as at Sept 30, 2010, the group announced on Tuesday, Nov 30.

Revenue earned dropped by 19% to RM30.95 million from RM38.15 million a year ago.

The group attributed the drop in revenue to lower contribution from its property development segment as it projects are at the tail-end stage.

Basic loss per share for the current quarter under review is 0.58 sen, compared to 0.18 sen a year ago. Net assets per share dropped to 37 sen from 38 sen as at the preceding financial year end.

Karambunai Corp — an investment holding company — develops properties, provides leisure and tourism services, as well as trades wood products in Malaysia.
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