A provider of building material and services to construction, Chin Hin Group Property Bhd posted a higher net profit for its third quarter ended Dec 31, 2019 (3QFY20), of RM1.46 mil from RM900,000 a year ago on the back of higher revenue of RM43.39 mil versus RM29.08 mil.
The company’s cumulative net profit for the first three quarters fell to RM2.55 mil from RM3.2 mil in the same period the previous year while revenue also decreased, to RM104.4 mil from RM111.86 mil, representing a 6% decline.
In a Bursa Malaysia filing on Feb 24, the company noted that its commercial vehicles and bodyworks segment’s revenue for 3QFY20 stood at RM26.25 mil, up RM1.5 mil from RM24.76 mil in the preceding quarter. The higher revenue was due to the higher demand for rebuilt commercial vehicles in the current quarter.
For the property development segment, revenue for the quarter was RM16.17 mil, an increase of RM11.47 mil compared to RM4.70 mil in the preceding quarter. The revenue was recognised from the development project jointly developed with Platinum Eminent Sdn Bhd. – Feb 24, 2020
