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Quarterly Report For The Financial Period Ended 30 June 2017

Financials Archive

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Condensed Consolidated Statements Of Profit Or Loss
For The Quarter Ended 30 June 2017

Income Statement

Condensed Consolidated Statement Of Financial Position
As At 30 June 2017

Balance Sheet

Review of Performance of the Company and its Principal Subsidiaries

Group Revenue performance compared to the preceding year’s same quarter has improved by 6.5%. The improvement in the revenue was mainly contributed by Hotel division.

The Group registered a consolidated profit before Interest, tax, Depreciation and Amortization of RM2.242 million as compared to RM0.011 million in preceding year same quarter. The improvement was as a result of:

  1. Higher Occupancy achieved by the Hotel properties.
  2. Higher sales and improved yield at Property division.
  3. Lower operation cost at Tourism division due to cost rationalization.

Commentary on Prospect

A Leap Ahead
The Group is confident the worst is behind us and the Group is poised for A Leap Ahead into the future. The Group has emerged leaner, cleaner and remain optimistic about sustaining the positive momentum.

Hotel Division
Riding on the momentum and recovery of the Hotel Division over the last two quarters, the division is expected to deliver its result in Financial Year 2017/2018. Intensified efforts to innovate, improve our sales and marketing strategies are showing the desired results. In addition, attention was given to yield, productivity and excellence in its services. The opening of Avillion Cameron Highlands in the 3rd Quarter of Financial year 2017/18 will contribute positively in the remaining quarters.

The Group will continue to pursue new management contracts by leveraging on its internationally recognized hotel brand.

Property Division
The division is eagerly awaiting the launch of Phase 2; Desa Impian once the issues related to subdivision of the land is resolved with the State and Local Authorities. This will further enhance revenue and cash flows to the Group.

Tourism Division
The Group is cautiously confident the cost rationalization, the restructuring of business and market focus for this division will begin to show some positive result on Financial Year 2017/2018. Devoid of legacy issues, the division will now be able to focus on developing new markets, improve yield as well as strengthening the outbound sector. The division will intensify actions to enhance the linkages and synergies between the Tourism and Hotel Divisions to generate higher revenue.