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MSM Malaysia Q2 profit climbs YOY

MSM Malaysia Holdings Bhd. said its second-quarter normalized net income came to 9 Malaysian sen per share, a gain from 9 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 65.9 million ringgits, a gain from 64.3 million ringgits in the year-earlier period.

The normalized profit margin increased to 11.2% from 10.8% in the year-earlier period.

Total revenue fell on an annual basis to 588.3 million ringgits from 595.4 million ringgits, and total operating expenses declined year over year to 483.5 million ringgits from 493.7 million ringgits.

Reported net income came to 79.1 million ringgits, or 11 sen per share, compared to 78.7 million ringgits, or 11 sen per share, in the year-earlier period.

As of Aug. 19, US$1 was equivalent to 4.10 ringgits.