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Financials

Financials



Quarterly Report For The Financial Period Ended 30 September 2018

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Condensed Consolidated Statements Of Profit Or Loss
For The Quarter Ended 30 September 2018

Income Statement

Condensed Consolidated Statement Of Financial Position
As At 30 September 2018

Balance Sheet

Review of Performance of the Company and its Principal Subsidiaries

Group Revenue performance compared to the preceding year’s same quarter has reduced by 11.7%. The Hotel division registered a drop in revenue mainly due to cuts in corporate and government spending and slower consumer consumption. Travel division remained challenging due to the slowdown tourist arrivals.

The Group registered a consolidated losses before tax of RM2.686 million compared to consolidated loss of RM2.645 million in preceding year same quarter.

Commentary on Prospect

Hotel Division

The next 6 month’s outlook is expected to improve against the same period last year. For the next quarter, we expect to see better performance from both Corporate and Government meetings as well as domestic leisure travel as demand improve due to a more stable political and economic environment as well as the up-coming holiday season.

Property Division
The mix development project in Desa Impian, Bandar Tenggara, Johor is on its second phase.

Phase 2A was launched in June’2018 and we have submitted for approvals from the local authorities for Phase 2B development and target to launch in year 2019.

Travel Division
The Travel Division is undergoing a rationalization exercise hence it is expected to have leaner structure and optimizing revenue. However, we remain cautious of the performance of this Division as margins are pressured and consolidation within the industry.


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