KUALA LUMPUR (July 30): iCapital.biz Bhd saw its net profit plunge 92.2% to RM505,000 or 0.36 sen a share for the fourth quarter ended May 31, 2015 (4QFY15) from RM6.4 million, or 4.58 sen a share, a year ago, mainly due to profit on disposal of securities in the preceding quarter.

In a filing with Bursa Malaysia today, the closed-end fund said revenue for the quarter shrunk 58.3% to RM3.87 million from RM9.28 million a year ago.

iCapital.biz noted that a better indication of its performance would be the movement of its net assets value (NAV). The NAV per share as at May 31 was RM2.90, compared with  RM3.05 a year ago, a decrease of 5.2%.

For the financial year ended May 31, 2015 (FY15), iCapital.biz’s net profit came in at RM10.48 million or 7.49 sen a share, 68.7% lower from RM33.45 million or 23.89 sen a share a year ago.

Revenue also dropped to RM21.81 million from RM43.68 million in 5MFY14.

iCapital.biz’s shares were last traded unchanged at RM2.24 yesterday, for a market capitalisation of RM313.6 million.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)