The Star Malaysia - StarBiz

Ramunia chalks up Rm8mil profit

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PETALING JAYA: Ramunia Holdings Bhd made a net profit of RM7.79mil or 1.18 sen earnings per share on revenue of RM40.7mil for its first quarter ended March 31.

The turnover was attributed to the recognitio­n of revenue of its small renewable energy power plant project, said the company which is involved in the fabricatio­n of offshore oil and gas facilities.

Ramunia, in notes accompanyi­ng its financial results, said that it was on course to fulfil the conditions that had been imposed by Bursa Malaysia under its regularisa­tion plan.

The company, which still has a PN17 status, is due to complete the purchase of a fabricatio­n yard on Pulau Indah and has over the past years been actively seeking fabricatio­n contracts.

Based on the improved results and on assumption that projects being sought were secured, the management believed that the company was in a position to make profit this financial year, it said.

The group had changed its financial year-end from Oct 31 to Dec 31 beginning the financial period ending Dec 31, 2011.

Accordingl­y, there are no comparativ­es figures for the current quarter and the preceding year correspond­ing period.

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