Nam Fatt Corp posts lower revenue of RM165.6 million for FY2009

KUALA LUMPUR: Nam Fatt Corp Bhd posted lower revenue of RM165.6 million for FY2009 from RM582.3 million in FY2008, while its profit before tax increased from RM6.4 million for FY2008 to RM185.8 million for FY2009.

In its statement to Bursa Malaysia on Feb 25, the decrease in revenue and increase in loss before tax were due to lower business volume for FY2009 and the incurrence of higher project-related actual costs incurred for a number of projects in the final stages of completion.

For 4Q2009, its revenue fell to RM24.8 million compared with RM140.4 million recorded in 4Q2008.

The group is still pursuing strategic local and overseas opportunities while remaining cautious in its business endeavours in the current economic condition, in line with its long-term direction towards overseas expansion and maintaining its presence locally, it said.