MUI Prop sees 3Q net loss of RM1.19m

KUALA LUMPUR: MUI Properties Bhd recorded a net loss of RM1.19 million compared to a net loss of RM1.21 million a year ago in its third quarter (3Q) financial statements ended Sept 30, 2010, the group announced on Monday, Nov 29.

Revenue earned, however, increased by 63% to RM5.98 million from RM3.68 million a year ago.

The group attributed the increase in revenue to the sales performance for the Bandar Springhill development project.

Basic loss per share for the current quarter under review was unchanged at 0.16 sen. Net assets per share dropped to 39.18 sen from 40.05 sen as at the preceding financial year end.

MUI Properties, an investment holding company, engages in the development and sale of residential and commercial properties.