Friday 29 Mar 2024
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KUALA LUMPUR (Nov 10): Power tools distributor Jasa Kita Bhd's net profit for the second quarter ended Sept 30, 2014 (2QFY15) surged 31% to RM1.94 million or 0.43 sen per share from RM1.48 million or 0.33 sen per share a year ago on increased sales from its industrial tools division and higher take-up rates for its warehouse facility.

Revenue for the quarter grew 11% to RM18.42 million from RM16.56 million previously.

Jasa Kita, controlled by tycoon Tan Sri Robert Tan Hua Choon with a 31.89% stake, did not declare any dividend for the quarter just ended.

For the cumulative six months to Sept 30, 2014 (1HFY15), Jasa Kita’s net profit edged up 1.5% to RM3.16 million or 0.70 sen per share from RM3.12 million or 0.69 sen per share in the same period a year ago.

The group’s cumulative revenue in 1HFY15 rose 6% to RM34.58 million from RM32.61 million previously.

On its outlook, Jasa Kita expects demand for electric motors to remain strong in view of the current on-going projects.

“The electric and non-electric industrial tools used in property and other related construction works may be affected by the cautious approach in the purchasing pattern of dealers and distributors, due to the impending implementation of the goods and services tax (GST), as well as the perceived effects on trading sentiments and other changes in the market,” it said in a statement to Bursa Malaysia this evening.

Dubbed as “Casio King”, Tan, 72, is also known as the “small cap king” as he own stakes in several small companies such as Goh Ban Huat Bhd, FCW Holdings Bhd, Keladi Maju Bhd, PDZ Holdings Bhd, Marco Holdings Bhd and GPA Holdings Bhd.

Tan made headlines this year when he sold his stake in Malaysia Aica Bhd last February, which then led to the formation of property developer Sunsuria Bhd.

He also recently sold a 10.23% stake in ceramic wares company Goh Ban Huat and trimmed his stakes in shipping firm PDZ Holdings Bhd to Pelaburan Mara Bhd.

Jasa Kita shares closed higher at 5.41% to 19.5 sen, giving it a market capitalisation of RM86.77 million.

 

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