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NewsUpdate Hua Yang 1Q net profit falls 25%, to issue bonus shares
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Update Hua Yang 1Q net profit falls 25%, to issue bonus shares
by Cals Thu 18 Jul 2013, 00:19
Update Hua Yang 1Q net profit falls 25%, to issue bonus shares
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 17 July 2013 18:45
KUALA LUMPUR (July 17): Property developer HUA YANG BHD []’s net profit fell 25% to RM12.32 million in the first quarter ended June 30, 2013 (1QFY14) from RM16.47 million a year earlier. Revenue decreased to RM80.5 million from RM97.96 million.
Hua Yang told the exchange today that the weaker financials came amid "slower CONSTRUCTION [] progress" and “minimal launches recognition”.
"Based on the group's pipeline of ongoing and upcoming projects, the board remains positive of posting improved results for the financial year ending March 31, 2014," Hua Yang said.
The company plans to reward shareholders with a share dividend. In a separate statement, Hua Yang said it intends to undertake a bonus issue of 66 million new shares.
The firm plans to give one bonus unit for every three existing shares held by shareholders.
Hua Yang intends to complete the exercise by the second half of 2013.
Business & Markets 2013
Written by Chong Jin Hun of theedgemalaysia.com
Wednesday, 17 July 2013 18:45
KUALA LUMPUR (July 17): Property developer HUA YANG BHD []’s net profit fell 25% to RM12.32 million in the first quarter ended June 30, 2013 (1QFY14) from RM16.47 million a year earlier. Revenue decreased to RM80.5 million from RM97.96 million.
Hua Yang told the exchange today that the weaker financials came amid "slower CONSTRUCTION [] progress" and “minimal launches recognition”.
"Based on the group's pipeline of ongoing and upcoming projects, the board remains positive of posting improved results for the financial year ending March 31, 2014," Hua Yang said.
The company plans to reward shareholders with a share dividend. In a separate statement, Hua Yang said it intends to undertake a bonus issue of 66 million new shares.
The firm plans to give one bonus unit for every three existing shares held by shareholders.
Hua Yang intends to complete the exercise by the second half of 2013.
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