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The Group recorded significant improvement in profit before taxation of RM29.75 million as compared to the significant losses in previous year’s corresponding period. This was mainly attributed by the positive contributing factors as follows:
(a) gain on fair value adjustment on short-term investment of approximately RM16.19 million;
(b) fast track of project deliverables and higher contract awarded under FMS-G segment;
(c) the gain on disposal of short-term investment of approximate RM2.08 million;
(d) higher sales demand for ABSS products driven by the attractive Government grants in the Singapore market; and
(e) strategic investment into Netsense Group with profit generation of RM0.65 million.
The loss before taxation situation of RM73.96 million registered in previous financial period had turn into profit before taxation of RM12.71 million in current quarter. The positive contributing factors leading to the positive profit recovery in current quarter were due to::
(a) Higher sales demand for ABSS products driven by the attractive Government grants in Singapore market;
(b) Saving of finance costs by approximately RM0.66 million per quarter upon the full settlement of share margin loan from MIDF & term loan from KIBB in second quarter of
FYE 2021;
(c) Fast track of project deliverables under FMS-G segment;
(d) Gain on fair value adjustment of approximately RM6.80 million on short-term investment, Dagang NexChange Berhad.
The overall economic outlook for 2021/2022 continues to be challenging with the recent surge of new COVID-19 infections and the re-imposition of COVID-19 travelling restrictions in Malaysia. Disruption from the COVID-19 pandemic is expected to continue with businesses operating under a “new normal” environment. Nevertheless, the COVID-19 pandemic has accelerated the shift of many businesses towards digitalization and has increased the interest and focus on innovation and digital transformation. Further, with the initiatives by the Government’s positive drive on country’s digitalization transformation agenda, the Group is encouraged that the demands for technology solutions in Malaysia will continue to grow.
Notwithstanding the above, the Group is still pursuing its initiative to strengthen Censof’s position as a leading major player in providing software solutions to the government agencies and private sector. The Group committed to explore investment opportunities, development of unique products and solutions using strategic alliances in new business segments to expand on its technical competencies and supply chain capabilities.
good morning tan, 0136 basic surface shows that there is a very stable profit, doing very good, stock price is also in a rising market, and now the valuation is already reasonable.
4243 the overall fundamental profit is also in a negative loss, although wood and the original products are in high transactions, our country has affected under the major epidemic, and there is also a significant impact on the company.