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MeGroup reports 84% fall in FY19 earnings on absence of one-off gains and listing expenses

PC Lee
PC Lee5/30/2019 11:23 PM GMT+08  • 2 min read
MeGroup reports 84% fall in FY19 earnings on absence of one-off gains and listing expenses
SINGAPORE (May 30): MeGroup reported a 84.4% drop in full-year earnings to RM1.4 million ($0.46 million) from RM8.9 million a year ago.
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SINGAPORE (May 30): MeGroup reported a 84.4% drop in full-year earnings to RM1.4 million ($0.46 million) from RM8.9 million a year ago.

The weaker bottomline was largely due to the absence of a one-time gain of RM4.8 million received in FY18 from the Malaysian government for the Mass Rapid Transit (MRT) system compensation due to land acquisition; the absence of the gain on disposal of Yatta Group amounting to some RM0.4 million in FY18 and; the one-off listing expenses of RM3.0 million that was recognised in FY19.

Full-year revenue increased 67.7% to RM243.5 million from a year ago.

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