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Malpac Holdings swings to profit in fiscal Q2

Malpac Holdings Bhd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2015, amounted to 700,630 ringgits, compared with a loss of 678,750 ringgits in the second quarter ended June 30, 2015.

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

The normalized profit margin climbed to 51.3% from negative 70.6% in the year-earlier period.

Total revenue rose 41.9% on an annual basis to 1.4 million ringgits from 962,000 ringgits, and total operating expenses fell 88.1% on an annual basis to 244,000 ringgits from 2.0 million ringgits.

Reported net income came to 1.1 million ringgits, or 1 sen per share, compared to a loss of 1.1 million ringgits, or a loss of 1 sen per share, in the second quarter ended June 30, 2015.

As of Feb. 24, US$1 was equivalent to 4.24 ringgits.