PETALING JAYA: The appetite for properties, especially for newly-launched residences, continues to be commendable, according to Melati Ehsan Holdings Bhd
.
The turnkey contractor, however, said that significant growth could not be expected as yet, given several headwinds in the near-term.
Melati Ehsan foresees a reduction in new construction jobs in the local market, amid a more competitive tender environment.
“Based upon this, Melati Ehsan plans to focus on execution and timely completion of its existing order book,” it said in a stock exchange filing.
In the fourth quarter ended Aug 31, the group’s revenue plunged by 70.21% year-on-year (y-o-y) to RM6.93mil.
However, its net profit – albeit only RM756,000 for the quarter – increased by 19.62% y-o-y due to reduced cost of sales, expenses and taxation.
Earnings per share were 0.65 sen. Melati Ehsan declared a one-sen dividend for the quarter.
