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Selangor Dredging’s profit falls due to hq disposal

KUALA LUMPUR, Selangor Dredging Bhd’s net profit for the third quarter (Q3) ended Dec 31, 2018, fell to RM4.65 million from RM83.10 million a year earlier mainly due to the disposal of Wisma Selangor Dredging, Kuala Lumpur, completed on Dec 5, 2017.

Nonetheless, revenue improved 88.6 per cent year-on-year to RM68.77 million, the property developer said in a filing with Bursa Malaysia today.

For the nine months ended Dec 31, 2018, the group recorded a 82.6 per cent decrease in net profit to RM15.32 million.

Source: BERNAMA News Agency

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