Thursday 28 Mar 2024
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SINGAPORE (May 9): Hatten Land saw a net loss of RM13.2 million (S$4.4 million) in 3Q18 ended March compared to a net loss of RM72.5 million a year ago in 3Q17 when the group reported a one-off expenses of RM87.8 million relating to the reverse takeover of VGO Corporation.

Revenue for 3Q18 fell 48.1% to RM85.5 million mainly due to lower revenue recognised for Hatten City Phase 2 project and lower sales from Hatten City Phase 1 project in 3Q18. The revenue decline was partially offset by the higher revenue contribution from Harbour City and Satori projects.

Gross profit came in at RM4.3 million for the 3Q18, 91.3% lower than the same quarter a year ago. The decrease in gross profit was mainly due to the additional estimated borrowing costs of RM17.7 million charged out to income statement for Hatten City Phase 2... (Click here to read the full story)

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