Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on May 17, 2019

KUALA LUMPUR: OSK Ventures International Bhd returned to the black with a net profit of RM1.34 million for the first quarter (1Q) ended March 31, 2019. The group had reported a net loss of RM13.82 million in the previous corresponding quarter.

Earnings per share stood at 0.68 sen compared with a loss per share of 7.03 sen previously, the group said in a filing yesterday. Revenue increased to RM15.8 million, from RM11.91 million a year earlier.

OSK Ventures said its net fair value gain on financial assets totalled RM1.77 million during the quarter. This compared to a net fair value loss on those assets of RM12.47 million in the 4Q of the previous year.

The group said its improved earnings was due to increases in market value in quoted investments held by the group.

On prospects, the group said it had two new additions to its portfolio throughout 1Q and is looking to close a few more deals by the end of the year.

“On our existing portfolio, we are expecting a divestment to materialise in the coming months with a reasonable return,” the group said.

OSK Ventures’ share price closed two sen or 4.17% lower at 46 sen yesterday, with a market capitalisation of RM94.29 million.

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