Kumpulan Fima earnings soar to RM32mil

Companies that provide short-term consumer loans at high interest rates are on the increase in countries like Indonesia and the Philippines as many people struggle to get advances through traditional channels such as banks.

KUALA LUMPUR: Kumpulan Fima Bhd’s net profit for the second quarter ended Sept 30, 2018, almost tripled to RM32.05mil from RM11.71mil a year earlier due to a significant writeback of impairment loss on property, plant and equipment.

Revenue increased to RM133.48mil from RM117.40mil previously due to better performance by most of the company’s divisions, including manufacturing, plantation, bulking and food.