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Pan Malaysia swings to profit in Q3

Pan Malaysia Corp. Bhd. said its third-quarter normalized net income amounted to 3.7 million ringgits, compared with a loss of 521,250 ringgits in the year-earlier period.

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

The normalized profit margin climbed to 21.8% from negative 3.2% in the year-earlier period.

Total revenue rose on an annual basis to 16.8 million ringgits from 16.5 million ringgits, and total operating expenses rose 5.9% on an annual basis to 18.3 million ringgits from 17.3 million ringgits.

Reported net income totaled 5.4 million ringgits, or 1 sen per share, compared to a loss of 642,000 ringgits, or a loss of 0 sen per share, in the year-earlier period.

As of Nov. 19, US$1 was equivalent to 4.28 ringgits.