Cost of sales grew 3% to RM371.29 million from RM362.13 million, while other income retreated 63% to RM3.67 million from RM10.02 million. Revenue was flat at RM467.18 million, versus RM465.17 million in the year-ago.
The pieces of land have been sold to PMJ Parkland Avenue Sdn Bhd and Parkland Diversified Sdn Bhd. The two related companies are involved in property development and investment holdings.
Kim Hin said the compensation money will be utilized partially to fund the reconstruction costs of the affected buildings and facilities and the related relocation costs. The excess will be kept for future investment purposes.
The group has declared an interim dividend of 1.5 sen per share for FY19, which is payable on Jan 6, 2020.
Meanwhile, revenue dropped 5.39% to RM388.16 million from RM410.26 million, whereas earnings per share (EPS) for the quarter declined to 1.35 sen from 1.75 sen last year.
No comparative figures were disclosed for the current quarter, following the company’s change in its financial year-end from April 30 to June 30, 2019.
Liu, 57, from China, currently holds an independent and non-executive directorship at NWP Holdings Bhd.
Meanwhile, YNH Property has also entered into a series of joint venture agreements for the development of a few pieces of land strategically located near Mont Kiara, Sri Hartamas, Kuala Lumpur city centre, Ipoh city and Seri Manjung town.
The furniture manufacturer said the location of the land is strategic as it is near its existing factories and head office.
Earnings per share fell to 9.77 sen from 10.3 sen previously, IGB said in a stock exchange filing yesterday.
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