For the financial quarter under review, the Group's business activities from continuing operations were in property development, energy services and investment holdings. The Group’s property development division comprises of the development of joint-venture property project in Taman Shamelin Perkasa and the redevelopment of a property in Central London. The Group’s energy services division, entails the trading and supply of specialty chemicals, provision of logistics and chartering services, engineering and fabrication works. The Group's investment holdings comprise of holding of investment in shares of subsidiaries, associate and joint venture as well as management services and provision of financial assistance for companies within the Group.
Q4 FY2018 v Q4 FY2017
The Group recorded a higher loss before taxation from continuing operations of RM2.16 million as compared to Q4 FY2017 of RM0.71 million mainly due to completion of Shamelin Star in December 2016 with no immediate revenue replacement for property development division.
Investment holdings division showed a higher loss by RM0.37 million mainly from higher number of headcounts necessary to support the long term growth of the Group.
On the other hand, energy services division recorded a profit before taxation of RM2.52 million as compared to loss of RM0.43 million in same quarter in previous year, owing to higher profit from seasonal catalyst demand by a customer.
FY2018 v FY2017
For the financial year ended 31 March 2018, the Group recorded a loss before taxation from continuing operations of RM0.78 million as compared to a profit before taxation of RM28.52 million in last financial year, mainly caused by lower sales of residential units of Shamelin Star.
For the next financial year, the Group will continue to focus on growing our key businesses under energy services, property development and construction. The Board and management are committed to achieve higher long term earnings growth that will create value for the shareholders.
We are constantly assessing property development opportunities both in Malaysia and abroad, following the successful completion of Shamelin Star in Taman Shamelin, Cheras and near completion of Portland Chambers on 93 Great Titchfield Street, in London.
With the stability in the global oil price and the Refinery And Petrochemical Integrated Development's ("RAPID") production that comes online in this financial year, the energy industry will remain a key sector in the Malaysian economy. We have identified the customers spending focus and will try to match their needs. We are also looking at geographical and product expansion to be financed partly by our divestment in non-core assets.
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ENRA Group Berhad (236800-T)
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