MajuPerak 1Q net profit rises 63.75%

KUALA LUMPUR: MajuPerak Holdings Bhd performance for the first quarter ending March 31, 2010 recorded a net profit of 63.75% with RM393,000 compared with RM240,000 in the corresponding quarter a year ago. The Group’s revenue rose 60.61% over the first quarter of 2010, recording RM3.087 million versus RM1.922 million.

In an announcement on Bursa Malaysia on May 25, the Group explained the revenue increase was attributable to the sale of development lands.

Moving forward, the Group said it will continue efforts in property development and diversify its activities into other industries and ventures.

The Group's principal activities are providing management contract services and developing properties. It also operates as an investment holding company. Operations are carried out predominantly in Malaysia.