trending Market Intelligence /marketintelligence/en/news-insights/trending/i-kVJobHQ8U9g3hVovZ1NA2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

New Hoong Fatt Q2 profit climbs 17.9% YOY


What’s on the Horizon for the Cruise, Hotel & Resorts Sector?

Capital Markets View – February 2021


Latin America multichannel, broadband market 2020 recap


TMT News & Insights: February 2021

New Hoong Fatt Q2 profit climbs 17.9% YOY

New Hoong Fatt Holdings Bhd. said its normalized net income for the second quarter came to 6 Malaysian sen per share, an increase of 18.0% from 5 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 4.5 million ringgits, a gain of 17.9% from 3.8 million ringgits in the year-earlier period.

The normalized profit margin rose to 8.7% from 6.7% in the year-earlier period.

Total revenue declined 9.1% on an annual basis to 51.7 million ringgits from 56.8 million ringgits, and total operating expenses decreased 12.2% on an annual basis to 44.3 million ringgits from 50.4 million ringgits.

Reported net income declined 5.8% year over year to 5.2 million ringgits, or 7 sen per share, from 5.5 million ringgits, or 7 sen per share.

As of Aug. 11, US$1 was equivalent to 3.99 ringgits.