Mudajaya records lower pre-tax profit last year

by **Cals** Tue 25 Feb 2014, 21:25

Business & Markets 2014

Written by Bernama

Tuesday, 25 February 2014 19:35

KUALA LUMPUR (Feb 25): Mudajaya Group Bhd's pre-tax profit for the financial year ended Dec 31, 2013, dropped to RM195.63 million, from RM284.12 million in 2012.

Revenue decreased to RM1.54 billion, from RM1.66 billion.

For the fourth quarter ended Dec 31, 2013, its pre-tax profit reduced to RM30.71 million, from RM48.95 million in the same period, in 2012.

Revenue jumped to RM334.34 million, from RM303.74 million previously.

In a filing to Bursa Malaysia, Mudajaya said the lower results were mainly due to the tapering-off in equipment components delivery of the Equipment Procurement contract, for a 4 x 360MW coal-fired power plant in India.

However, the better results in revenue for the quarter, were mainly attributable to manufacturing segment; trading segment and property development segment.

Moving forward, Mudajaya said that the company is well-placed to benefit from some projects announced in Budget 2014, in October 2013.

"The projects include Mass Rapid Transit Line 2 and 3, power plants, highways and infrastructure projects," it said.

Other than the local projects, Mudajaya is also considering investment opportunities in the Asean region, particularly in the conventional and renewable energy power sectors.

"The group is currently working on a wind energy farm project in the Philippines, which is likely to be implemented this year," it said.

Mudajaya also said that it is planning to launch some property development projects within the Klang Valley, in the near future.

"One of the up-coming projects is the mixed property development on a six-acre piece of land, nearby Tropicana Gold and Resort, which is expected to be launched in the second half (of) this year," it added.