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Share Issuance Drags JAG Into The Red For 3Q15
Malaysia Daily Bulletin | 06 November 2015
By:
  • Waste management services provider JAG swung into a net loss of RM8.2 million in 3Q15, attributable to higher staff costs due to the granting of share issuance scheme options to eligible employees, which amounted to RM9.1 million.
  • Earnings were also dragged down by a 34.8 percent decline in quarterly revenue to RM20.2 million, impacted by lower commodity prices, specifically copper.
  • In the short term, the group acknowledged that outlook is expected to stay challenging as the price of commodities remain low, but noted that it was actively seeking to expand its waste management processing capabilities from electronic waste to other areas to off-set its reliance on commodity prices.

Significance: With the challenges ahead, JAG is also exploring opportunities to diversify earnings stream by tapping into other business opportunities, like the joint venture initiative to expand in the 24-hour self-operated laundry business.


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