Minetech's LBT continues to narrow on higher revenue from civil engineering, manufacturing divisions

minetech's lbt continues to narrow on higher revenue from civil engineering, manufacturing divisions

Minetech’s LBT continues to narrow on higher revenue from civil engineering, manufacturing divisions

KUALA LUMPUR: Civil engineering specialist and bituminous products manufacturer Minetech Resources Bhd (MRB) recorded a loss before tax (LBT) of RM1.5 million for the second quarter (Q2)  ended 30 September 2022 (FY23) compared with LBT of RM4.7 million in Q2 FY22.

Revenue was 31.9 per cent higher at RM26.9 million compared with RM20.4 million in the same quarter last year.

On a segmental basis, the civil engineering division recorded a 8.1 per cent rise in revenue to RM16.1 million in Q2 FY23 compared with RM14.9 million in Q2 FY22.

The manufacturing division, which produces bituminous products for pipe coating, waterproofing and sealing, posted a 166.7 per cent increase in revenue to RM7.2 million compared with RM2.7 million in the same quarter of the previous financial year.

For the first-half (1H) of FY23, MRB registered a 36.9 per cent increase in revenue to RM50.9 million compared with RM37.2 million in 1H FY22.

The company recorded LBT of RM3.1 million in the 1H FY23 compared with RM9.1 million in 1H FY22.

Executive director Matt Chin said the company continue to see financial performance improve with narrower losses on higher revenue contribution from the civil engineering division’s Selinsing Gold Mine due to increase in work volume as well as from the Cheras-Kajang Highway, Wangsa Brezza Hill and GM Emerald Square.

“We have seen a significant increase in revenue contribution from the manufacturing division mainly due to the rise in sales of coating enamel and blown asphalt products as a result of improved demand from both domestic and overseas markets.

“We continue to emphasise various cost-control measures and cash conservation and at the same time exploring opportunities that have seen us venturing into technology and innovation and penetrating into second-tier construction activities.

“These initiatives have helped us weather the storm and continue to create value for shareholders and other stakeholders,” he said.

© New Straits Times Press (M) Bhd

News Related

OTHER NEWS

PM Anwar names Umno president Zahid as DPM

Malay Mail Social Logo KUALA LUMPUR, Dec 2 — Prime Minister Datuk Seri Anwar Ibrahim has named Umno president Datuk Seri Ahmad Zahid Hamidi as his deputy in his national ... Read more »

PKR takes key portfolios of finance, home, education in PM Anwar’s Cabinet

Malay Mail KUALA LUMPUR, Dec 2 — Prime Minister Datuk Seri Anwar Ibrahim announced that he will personally control the Finance Ministry in his administration, repeating a practice for which ... Read more »

EC: Review of September Supplementary Electoral Roll now open

A screenshot of the MySPR Semak website. KUALA LUMPUR: The Supplementary Electoral Roll for September 2022 (DPT BLN9/2022), which has been verified and gazetted, is now open for review for ... Read more »

Zahid kembali menjadi TPM, Anwar menteri kewangan

Zahid kembali menjadi TPM, Anwar menteri kewangan Perdana Menteri Anwar Ibrahim hari ini mengumumkan Ahmad Zahid Hamidi sebagai timbalan perdana menteri, mengembalikan presiden Umno ke kedudukan kedua tertinggi kerajaan yang ... Read more »

Kitingan says Anwar keen to speed up MA63 delivery for Borneo states

Kitingan says Anwar keen to speed up MA63 delivery for Borneo states KOTA KINABALU: Prime Minister Datuk Seri Anwar Ibrahim is keen for the direct implementation of the Malaysia Agreement ... Read more »

Jambatan Kampung Nangkawangan sudah lama siap

Arthur menasihatkan orang ramai supaya tidak terpedaya dengan sebarang cubaan mendapatkan dana kerana jambatan gantung Kampung Nangkawangan sudah siap sepenuhnya sejak Julai lalu. Jambatan gantung baharu di Kampung Nangkawangan, Nabawan. ... Read more »

Four restaurants, hotel kitchens in Melaka closed due to filthy conditions

Melaka Health Department staff inspected the condition of the kitchen at one of the hotels during the Op Hotel. – Facebook photo of Melaka Health Department MELAKA – Four restaurants ... Read more »

Zahid returns as number 2, Anwar keeps finance as he unveils Cabinet

Zahid returns as number 2, Anwar keeps finance as he unveils Cabinet Prime Minister Anwar Ibrahim has named Ahmad Zahid Hamidi as deputy prime minister, returning the Umno president to ... Read more »

Oppo’s upcoming clamshell foldable set to take on the Samsung Galaxy Z Flip 4 globally

It’s almost a full year now since Oppo showed off to the world the Oppo Find N, their first ever foldable that surprised everyone by being much smaller than the ... Read more »

Anwar is finance minister

Prime Minister Anwar Ibrahim at a press conference tonight. PETALING JAYA: Prime Minister Anwar Ibrahim will take on the finance portfolio. In unveiling his Cabinet, Anwar also announced that Tengku ... Read more »

Zahid, Fadillah appointed DPMs

Umno’s Ahmad Zahid Hamidi (left) and Gabungan Parti Sarawak’s Fadillah Yusof have been appointed deputy prime ministers in the unity government. PETALING JAYA: Umno’s Ahmad Zahid Hamidi and Gabungan Parti ... Read more »

Anwar galas portfolio kewangan

Ketika mengumumkan Jemaah Menterinya malam ini, Anwar Ibrahim turut memaklumkan beliau memegang portfolio kewangan. PETALING JAYA: Perdana Menteri Anwar Ibrahim menggalas portfolio kewangan, menurut pengumuman Jemaah Menterinya hari ini. Anwar ... Read more »

Former Perlis MB Hamid Pawanteh fondly remembered for his personality

Former Perlis MB Hamid Pawanteh fondly remembered for his personality ARAU: Former Perlis menteri besar Tan Sri Dr Abdul Hamid Pawanteh has been described as a leader with a positive ... Read more »

Isu air: Pulau Pinang akan teruskan rundingan dengan Perak

Kon Yeow menggerakkan jentera sebagai tanda gimik Majlis Pecah Tanah Bangunan Penyimpanan Mayat India pada Jumaat. GEORGETOWN – Kerajaan Pulau Pinang menghormati pendirian kerajaan Perak berhubung keengganan negeri itu membekalkan ... Read more »

#Showbiz: Ne-Yo is coming to KL on Jan 21

#Showbiz: Ne-Yo is coming to KL on Jan 21 KUALA LUMPUR: America’s R&B singer and three-time Grammy winner Ne-Yo is coming to town to perform for his fans in a ... Read more »

Court frees man serving life in prison for firearms trafficking

Photo for illustration purposes only. PUTRAJAYA – A canopy supplier who was sentenced to life imprisonment and ordered to be whipped for firearms trafficking, walked out a free man today ... Read more »

Nak kerepek pisang jadi rangup berlemak, guna bahan ini ketika menggoreng

KEREPEK pisang antara kudapan yang menjadi pilihan ramai pelbagai peringkat usia. Jenis kudapan sebegini disukai ramai kerana sifatnya yang rangup, masin dan manis serta mudah melekakan ketika dimakan. Lazimnya, kita ... Read more »

Is now the right time for your business to buy real estate?

Is now the right time for your business to buy real estate? For small businesses hoping to establish or expand their brick-and-mortar presence, it may seem like a bad time ... Read more »

Kit Siang cadang tubuh jawatankuasa siasat Islamofobio, jemput PAS beri kerjasama

Lim Kit Siang mencadangkan jawatankuasa itu menjemput Presiden PAS Abdul Hadi Awang dan pemimpin PAS lain memberi kerjasama membuktikan pertuduhan terhadap DAP dan PKR yang dikatakan mempromosi Islamofobia. PETALING JAYA: ... Read more »

Unifi TV lays out treats for Malaysians

ENJOY exciting interactive experiences in Unifi TV’s Extraordinary Tour happening at Gurney Plaza in Penang this weekend (Dec 2 to 4). There are activities and showcases from many leading content ... Read more »

Flood forecast for Pasir Mas, Golok tomorrow - DID

Photo for illustration purposes only. KUALA LUMPUR – The Department of Irrigation and Drainage (DID) is forecasting the possibility of floods in Pasir Mas district in Kelantan tomorrow (Dec 3). ... Read more »

Burst underground pipe cause of landslide at Taman Megah Jaya

Burst underground pipe cause of landslide at Taman Megah Jaya KUALA LUMPUR: A burst underground pipe is believed to be the cause of a landslide that happened at Taman Megah ... Read more »

MOH Will Provide Free HIV Prevention Medication

MOH Will Provide Free HIV Prevention Medication Subscribe to our Telegram channel for the latest stories and updates. Pre-exposure prophylaxis (PrEP), an oral medication used to prevent HIV transmission through sex or ... Read more »

Sirim expands certification services to China

Sirim expands certification services to China KUALA LUMPUR: Sirim Bhd, through Sirim QAS International together with Hunan Huasheng International Trade Consultancy, has expanded its certification services to China. Sirim president ... Read more »

Malakoff to build & operate solar energy system at Senai Airport

Malakoff to build & operate solar energy system at Senai Airport KUALA LUMPUR: Malakoff Corp Bhd has partnered with Senai Airport Terminal Services Sdn Bhd (Senai Airport) to  develop and ... Read more »

Elements of instability still present in govt, says analyst

Anwar Ibrahim is walking on very thin ice when it comes to holding on to his parliamentary majority, says analyst. (Bernama pic) PETALING JAYA: Despite enjoying a two-thirds majority in ... Read more »

Izinkan negara pulih

Imbas kembali Khamis 24 November 2022, apabila Anwar Ibrahim mengumumkan pada sidang media pertamanya selaku perdana menteri bahawa Isnin 28 November cuti umum. Jujur saya katakan saya agak kecewa. Saya ... Read more »

No time to waste: New senators in cabinet to be sworn in today

No time to waste: New senators in cabinet to be sworn in today KUALA LUMPUR: The newly-announced members of the federal cabinet will be sworn in today. This will involve ... Read more »

Threats, provocation prevent moves to stop illegal landfills in Selangor

The Selangor state assembly was told that the existing by-laws only covered garbage disposal trucks and did not include operators of illegal landfills. PETALING JAYA: The Selangor state government is ... Read more »

Late cabinet announcement not sign of Anwar's failure

Nik Ahmad Kamal SHAH ALAM – The delay in the formation of the current cabinet is not a sign of the unity government’s failure under the leadership of the Prime ... Read more »

China-Laos Railway reports robust operation a year after launch

China-Laos Railway reports robust operation a year after launch Aerial photo taken on Nov. 25, 2022 shows a Lane Xang EMU (electric multiple unit) train running on the China-Laos Railway ... Read more »

Underground pipe leak believed to have caused landslide in Ampang

JBPM will continue to monitor the site to ensure safety. – JBPM Selangor Photo KUALA LUMPUR – The 30 metre-high landslide that occurred at the residential area in Taman Mega ... Read more »

Rafael Nadal has begun to say goodbye to Mexico.

Rafael Nadal has begun to say goodbye to Mexico. The words of Rafael Nadal There is great anticipation in Mexico City for the exhibition match between Rafael Nadal and Casper ... Read more »

Malaysian stocks fall today ahead of Cabinet announcement, but a rebound is expected on Monday

Malaysian stocks fall today ahead of Cabinet announcement, but a rebound is expected on Monday KUALA LUMPUR: Shares on Bursa Malaysia fell today ahead of the Cabinet announcement but analysts ... Read more »

Armed Forces need bigger budget for better defence capability

Armed Forces need bigger budget for better defence capability KOTA KINABALU: Navy chief Admiral Tan Sri Mohd Reza Mohd Sany hopes the new government will consider streamlining the budget for ... Read more »

Anwar returns to Tambun for the first time as PM

Malay Mail IPOH, Dec 2 — Hundreds gathered at the Pasar Tanjung Rambutan here to meet Datuk Seri Anwar Ibrahim as he visited his Tambun constituency for the first time ... Read more »

Olivia Rodrigo Teases 'New Music' to Come in 2023 During Spotify Wrapped Video: 'So Excited'

Jeff Kravitz/FilmMagic Olivia Rodrigo Olivia Rodrigo is getting fans excited for the new year! To celebrate her top listeners on Spotify Wrapped, the “traitor” singer addressed her fans in a ... Read more »

Johor Pakatan confident new unity govt can contribute towards economic revival, health, and development

Malay Mail JOHOR BARU, Dec 2 — Johor Pakatan Harapan (PH) is confident that the recently formed unity government will inject a new perspective in improving the system of federalism ... Read more »

Anwar to reveal Cabinet after Perak trip this afternoon? (VIDEO)

Malay Mail KUALA LUMPUR, Dec 2 — Speculation remained high on who will be in the new Cabinet as Prime Minister Datuk Seri Anwar Ibrahim headed for an audience with ... Read more »

Kitingan anggap STAR, PN ‘bercerai’

Jeffrey Kitingan berkata, pengumuman akan dibuat minggu ini berhubung status STAR dalam Perikatan Nasional. KOTA KINABALU: Presiden Parti Solidariti Tanah Airku (STAR), Jeffrey Kitingan menganggap partinya dan Perikatan Nasional (PN) ... Read more »
Breaking thailand news, thai news, thailand news Verified News Story Network