Thursday, 21 January 2016

SGX Stock Picks Update: GuocoLand Suffers a net loss of RM7.5 million for 2Q16

SGX Stock Picks Update: Property engineer GuocoLand (Malaysia) posted a net loss of RM7.5 million for 2Q16, on the back of a 34.9 percent decrease in income to RM36 million, on lower commitment from the organization's tasks.

The firm shared that the lessening in the commitment from business tasks was mostly alleviated by an expansion in the private undertaking in Damansara City.

For the six-month period, the gathering's top and primary concern progressed 27.5 percent and 138.9 percent to RM106.8 million and RM13.9 million separately.

Essentialness: Looking ahead, GuocoLand (M) takes note of that it stayed wary on the viewpoint and notion for the property market in the midst of the questionable monetary environment. Thusly, the organization would keep on concentrating on auspicious finishing of its advancement ventures and to monetise its inventories. 

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