OKA Corp extends announcement date of 4Q results

OKA Corp extends announcement date of 4Q results
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KUALA LUMPUR (May 24): Precast concrete product manufacturer OKA Corp Bhd says its results for the fourth quarter ended March 31, 2021 (4QFY21) will only be issued by June 30.

In a bourse filing, the company said it is making use of the extension of time granted by Bursa Malaysia last Friday (May 21) to all listed issuers to submit their quarterly reports and annual reports, which are originally due by May 31, 2021 and June 30, 2021 respectively, by another month.

OKA Corp added that the board of directors will ensure that its unaudited 4QFY21 report is issued latest by June 30.

On Feb 25, the group announced that its net profit for 3QFY21 grew 90% to RM4.07 million from RM2.14 million a year ago, while revenue rose 13.2% to RM33.79 million from RM29.86 million in 3QFY20. The improved quarterly performance was attributed to higher volume of products sold.

However, it warned that the Covid-19 pandemic will undeniably have an adverse impact on global markets and businesses including OKA Corp, although it believed the impact would be manageable as most of its ongoing projects were expected to carry it through the financial year ended March 31, 2021 (FY21).

OKA Corp shares closed up three sen or 4.14% at 76 sen today, bringing a market capitalisation of RM184 million.