Ikhmas Jaya said its external auditor has included a statement of material uncertainty in its independent auditors’ reported dated Nov 29, in respect of the company’s interim financial statements for the financial period ended Sept 30, 2019.
Mudajaya in its exchange filing attributed its improved quarterly performance to the ongoing MRTv207 project and the recognition of remaining work done for its Pengerang projects in Johor.
As a result, earnings per share came in lower at 0.19 sen for 3QFY19 compared with 1.68 sen for 3QFY18.
Despite the muted growth experienced by the property market and conscious consumer sentiment, the property developer is already targeting new launches amounting to a GDV of RM3 billion in FY20.
The group’s revenue for the quarter, however, fell 5% to RM93.62 million from RM98.36 million in the previous year.
This brings the property developer’s full year net profit to RM126.82 million, down 18.3% from RM155.24 million in FY18, while revenue stood 25% lower at RM534.26 million versus RM712.26 million in the preceding year.
The concession, which manages UiTM Seremban 3 campus in Negeri Sembilanis, is housed under Menang’s subsidiary Inovatif Mewah Sdn Bhd.
Under the agreement, China Railway Dongfang will bring in and secure the cooperation of industry experts and specialists, and transfer technology to promote and undertake large scale joint investments in various industries in Malaysia.
Quarterly revenue, however, contracted 24% to RM327.61 million from RM430.1 million in 3QFY18, due to lower settlement of Aurora Melbourne Central and Conservatory, and lower sales of completed units, its stock exchange filings today showed.