ARB posts record profit in Q1


The 20-year contract secured by its unit Metro Parking Management Philippines Inc would also include the construction of an additional 208-bays of steel deck parking structure in MBP - a bustling business hub in the affluent suburb near Alabang Town Centre, one of Metro Manila

KUALA LUMPUR: ARB Bhd’s posted a record net profit of RM5.076mil in its first quarter ended March 31, contributed substantially by he stronger top line of its information technology segment. 

In a statement Tuesday, ARB, formerly known as Aturmaju Resources Bhd, said it posted its biggest quarterly revenue since 2015 as the group’s top line hit RM12.427mil in the first quarter, having increased sharply by 15,630% as compared to a revenue of only RM79,000 a year ago. 

For context, ARB’s revenue in the first quarter has come close to what the group achieved for the full-year of FY2018, which was RM15.257mil.

“Our record-breaking results speak for themselves, demonstrating that ARB has continued the forward momentum of a very strong FY18. 

“Our FY19 is off to an excellent start driven by the continued high demand for our IT solutions in the areas of Enterprise Resource Planning (ERP) system and Internet of Things (IoT) Intelligent Lifestyle concept,” chief executive officer (investment & technology) Datuk Larry Liew said.

“Our profit in 1QFY2019 is generated from our recurring-income business model, which I believe has reflected in two consecutive quarters. With a market capitalisation of less than RM50mil, I strongly believe ARB is undervalued by the investing community,” he added. 

On Monday, ARB has announced a share sale agreement to dispose 100% stake of its two indirect wholly-owned subsidiaries which is in loss-making and non-operating timber business of the company. The proposed disposal will result in an estimated gain of approximately RM3.61mil.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

ARB , Aturmaju

   

Next In Business News

Oil prices surge 3% on reports of Israeli strikes on Iran
US bonds rally on reports of Middle East missile strike
Fed policymakers agree: there's no urgency to cut rates
Ringgit opens easier against US$ as Fed turns hawkish
Main Market-bound Keyfield to gain from AWB market upcycle
FBM KLCI continues rebound after two days of recovery
Trading ideas: RHB, Axiata, Yinson, Affin, Kimlun, AWC, Pansar, DC Healthcare, AwanBiru, Systech, Auro, Bursa Malaysia, HeiTech Padu, AmFirst REIT and Sin-Kung Logistics
Farhash no more HeiTech’s substantial shareholder
AWC lands RM17.8mil plumbing job
Trading suspension for Awanbiru

Others Also Read