trending Market Intelligence /marketintelligence/en/news-insights/trending/q7HXBwGghVkhB7upxF2WYA2 content esgSubNav
In This List

Lee Swee Kiat Q3 profit falls YOY

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Podcast

Next in Tech | Episode 65: The operations side of AI/ML


Lee Swee Kiat Q3 profit falls YOY

Lee Swee Kiat Group Bhd. said its normalized net income for the third quarter amounted to 551,250 ringgits, a decline of 27.3% from 758,750 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 declined to 3.3% from 4.2% in the year-earlier period.

Total revenue declined 8.4% year over year to 16.7 million ringgits from 18.2 million ringgits, and total operating expenses declined 7.6% year over year to 15.7 million ringgits from 17.0 million ringgits.

Reported net income fell 21.8% year over year to 832,000 ringgits, or 1 sen per share, from 1.1 million ringgits, or 1 sen per share.

As of Nov. 12, US$1 was equivalent to 4.38 ringgits.