DRB-Hicom document RM179mil internet loss in Q3

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KUALA LUMPUR: DRB-Hicom Bhd dipped into the purple with a internet lack of RM179.44 million within the third quarter ended Sept 30, 2021 (Q3 FY2021) in contrast with a internet revenue of RM47.5 million in the identical interval final yr.

Income declined to RM2.12 billion versus RM3.56 billion in Q3 FY2020 because the lockdown in July and August 2021 restricted enterprise actions throughout the group, it mentioned in a submitting with Bursa Malaysia at present.

For the cumulative nine-month interval ended Sept 30, 2021, DRB-Hicom’s internet loss narrowed to RM413.89 million versus RM431.86 million beforehand whereas income slipped to RM8.25 billion towards RM8.31 billion in the identical interval a yr in the past.

DRB-Hicom mentioned its automotive sector’s income declined to RM1.27 billion in Q3 FY2021 from RM2.54 billion in Q3 FY2020 as gross sales exercise ceased underneath the motion management order.

Nevertheless, for the nine-month interval, the sector recorded a 4 per cent rise in income to RM5.63 billion towards RM5.41 billion within the corresponding interval of final yr.

“71,244 items of Proton automobiles discovered new houses within the 9 months to September, giving them a year-to-date market share of twenty-two per cent towards 21 per cent in the identical interval in 2020,” it mentioned.

On the companies sector, DRB-Hicom mentioned income for the sector fell 9 per cent to RM835.21 million in Q3 FY2021 versus RM918.67 million in Q3 FY2020 led by the falling income of its subsidiary, Pos Malaysia Bhd.

On the properties sector, it mentioned income dipped 88 per cent in Q3 FY2021 to RM12.84 million from RM104.32 million in Q3 FY2020.

Shifting ahead, it mentioned the federal government’s choice to increase the gross sales tax exemption for passenger automobiles till June 20, 2022 would induce sturdy demand for automobiles.

“As well as, the lifting of the interstate journey ban and gradual re-opening of borders is anticipated to spice up the group’s different companies within the logistics, defence, aerospace, banking and companies segments,” it mentioned.

However, DRB-HICOM mentioned it’s involved that financial uncertainties would possibly nonetheless persist and the group would proceed to stay vigilant and cautious in managing its companies.

“The group doesn’t count on the financial restoration in This autumn 2021 to reverse the cumulative damaging influence led to by the COVID-19 pandemic for the monetary interval ended Sept 30, 2021,” it added. – Bernama



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