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Capital World's 3Q earnings halve to $6.5 mil on lower revenue, higher expenses

Michelle Zhu
Michelle Zhu5/8/2018 08:04 AM GMT+08  • 1 min read
Capital World's 3Q earnings halve to $6.5 mil on lower revenue, higher expenses
SINGAPORE (May 8): Capital World, the property developer formerly known as Terratech Group, reported earnings of RM19.2 million ($6.5 million) for the 3Q ended March, down half from its earnings of RM38.4 million a year ago due to lower revenue and higher
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SINGAPORE (May 8): Capital World, the property developer formerly known as Terratech Group, reported earnings of RM19.2 million ($6.5 million) for the 3Q ended March, down half from its earnings of RM38.4 million a year ago due to lower revenue and higher expenses.

Revenue for the quarter fell 42% to RM43.5 million from RM74.6 million in 3Q17 due to a lower incremental percentage of completion (POC) for Capital 21, the retail podium component of the group’s mixed development in Johor, Malaysia).

In line with the lower revenue, selling and distribution expenses fell to RM1.8 million from RM3 million a year ago.

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