Tuesday, November 23, 2010

Mudajaya 3Q net profit up 31.8% to RM45.55m

KUALA LUMPUR: MUDAJAYA GROUP BHD [] net profit rose 31.8% to RM46.55 million for the third quarter ended Sept 30, 2010 from RM35.32 million a year ago, mainly due increased level of activities.

It said on Tuesday, Nov 23 revenue dipped 4.5% to RM191.15 million from RM200.1 million. Earnings per share were 11.37 sen, while net assets per share was RM1.63.

For the nine months ended Sept 30, Mudajaya's net profit doubled to RM151.36 million from RM75.84 million. Revenue rose 25.7% to RM639.14 million from RM508.21 million. Mudajaya said the group's financial performance for 2010 was expected to improve from a year ago.

In a separate statement, Mudajaya said the joint venture (JV) between Datuk Abdul Rahman Abdullah, Integrated Heights Sdn Bhd and its unit Mudajaya Corporation Bhd, was granted an advertisement and sales permit for the period from April 8, 2010 to April 7, 2011.

On the JV between Mudajaya Corp and RK Powergen Pte Ltd for a coal-fired independent power producer project in Chhattisgarh, India, the company said there was no further update since the last announcement dated Aug 25, 2010.

It added there were no further updates on the memorandums of understanding between Mudajaya Corp and Koperasi Serbaguna Peneroka Felda Chini Tiga Bhd and Promi-Quest (M) Sdn Bhd; between Mudajaya Corp and Koperasi Pembangunan Tanah Daerah Kuantan Berhad for a contract sum of approximately RM141 million; between Mudajaya Corp and PT Permata Kaltim; and between Mudajaya Middle East Ltd, Modern Electro-Mechanical Projects Limited and'' Mubarak Abdullah Mohammed Al Khafr since Aug 25 this year.

Meanwhile, on the MoU between Mudajaya Corp and the government of Laos, it said a consultant was appointed on Monday to undertake the feasibility study consultancy services in respect of the Nam Poui 1 Hydropower project in the country.

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