Mulpha International 1Q profit up to RM49.15 million

KUALA LUMPUR: Mulpha International Bhd recorded a profit after tax of RM49.15 million and revenue of RM147.87 million for the first quarter ended March 31, 2010 compared with a loss of RM9.5 million and revenue of RM142.43 million in 1Q 2009.

This strong performance was attributed to the improved share of profits from the Group’s associates coupled with the dilution of interest in Mudajaya Group Bhd amounting to RM29.85 million, said the company in a listing on Bursa Malaysia on Thursday May 20.

However, profit after tax recorded in the previous quarter (4Q 2009) was RM64.48 million which was attributed to the Group’s strength in its property and hotel operations, especially in Australia.

Mulpha International is a diversified conglomerate with a shareholder's fund in excess of RM 2 billion. The Group's focus is on property development and investment, financial services, infrastructure and civil construction with operations and investments in Malaysia, Vietnam, Singapore, China and Australia.

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