News by theedgemarkets.com

This marked the third time the group incurred losses in the last two years. 

Compared to the preceding quarter, the group’s net profit increased 49.3% from RM6.13 million. 

Its quarterly revenue, however, increased slightly by 3.68% to RM1.07 billion from RM1.03 billion. 

Quarterly revenue fell 42% to RM826.27 million, from RM1.42 billion last year, mainly contributed by its UK and Egypt operations (RM406 million), US and Bahamas operations (RM364.2 million) and Malaysia operations (RM17.7 million).

Also contributing to the weaker quarter was its share of losses from joint ventures and associates, in particular from the Meizhou Wan power plant in China. 

The decision to withdraw the appeal at the Federal Court was made despite the fact that the Court of Appeal's decision to acquit him was not unanimous.

BNM announced that the action taken against the company and its affiliates had led to the freezing of 45 bank accounts in seven banks and the seizure of RM118.7 million in cash.

Dr Mahathir had questioned why Najib’s request for the RM100 million piece of land and house was not included in Budget 2022.

Earnings per unit rose 10.6% to 2.4 sen, from 2.17 sen in the same quarter last year.

This is the second extension for the MGO, after the offeror previously extended the closing date to Nov 8 from Nov 22.