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The loss after tax in the current quarter was mainly attributable to fair value loss on derivative financial instruments of RM6.6 million and unrealised foreign exchange loss of RM26.8 million due to the strengthening of Ringgit Malaysia against US Dollar during that period. The Group recorded a marginal loss before interest and tax for the current quarter under review of RM0.6 million, if the impact of unrealised foreign exchange loss and fair value loss on derivative financial instruments were not taken into account.
The Group was awarded a contract valued at RM12.9 million by Totalbuildz Sdn. Bhd. for the Hanaz @ Jalan Mayang project, which includes earthworks, piling, pile cap, and sub-structure works.