I-Bhd posts 3Q net profit of RM5.03mil

" i-City’s location in the heart of Selangor’s Golden Triangle continues to offer immense longer term value, and which will underpin growth over the next decade and with almost 70% of our gross floor area (GFA) still untapped, ” I-Bhd executive chairman Tan Sri Lim Kim Hong (file pic)said

KUALA LUMPUR: I-Bhd recorded a net profit of RM5.03mil for the third quarter (3Q) ended Sept 30,2019, which was 11.3% lower over the previous corresponding quarter on the back of lower revenue contribution from property development

In a statement, the group said revenue dropped 30.36% year-on-year (y-o-y) in 3Q to RM42.25mil owing to lower unbilled sales in property development as well as the soft property market.