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GuocoLand (Malaysia) 1Q16 Earnings Surge More Than 7 Folds
Malaysia Daily Bulletin | 12 November 2015
By:
  • GuocoLand (Malaysia) reported a more than seven-fold gain in 1Q16 net profit to RM21.3 million, on the back of a 148.4 percent jump in turnover to RM70.8 million.
  • The increase in top line was attributable to higher contribution from the group’s residential project in Damansara City and commercial project in PJ City Corporate Hub.
  • Recognition of fair value gain on investment properties amounting to RM16.7 million further boosted the firm’s bottom line.

Significance: Despite recording a good performance, the group expects the property market outlook and sentiment to remain cautious amid the uncertain economic environment and shared that it will continue to focus on timely completion of development projects and to monetise the inventories.


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