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EastLand Equity Q1 profit climbs YOY

EastLand Equity Bhd said its normalized net income for the first quarter was 18.8 million ringgits, a gain from 214,280 ringgits in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to negative 4.0% from 2.7% in the year-earlier period.

Total revenue came to 7.8 million ringgits.

Reported net income rose year over year to 29.8 million ringgits, or 12 sen per share, from 9,740 ringgits, or 0 sen per share.

As of May 11, US$1 was equivalent to 3.60 ringgits.