29th Sep 2015 12:56
LONDON (Alliance News) - Resource Holding Management Ltd Tuesday said it made a profit in the first half of 2015 as it made a gain on the sale of warrants and shares in its investment company, although revenue dropped due to a weak performance from the same company.
The investing company said that it made a pretax profit of CNY3.2 million in the six months to June 30, having suffered a pretax loss of CNY8.1 million in the first half of 2014, although revenue fell to CNY15.9 million from CNY28.3 million.
Resource is invested in the holding company PUC Founder (MSC) Berhad, and said that it made a gain of CNY2.5 million on the sale of PUCF warrants and shares, which helped its profit.
PUCF did, however, produce a lower revenue contribution from its biometric, advertising and media divisions, as well as being hit by the depreciation of the Malaysian ringgit and political and economic uncertainties.
"We are optimistic about the forthcoming financial year and will aim to enhance shareholder value by seeking appropriate investments. We are also optimistic regarding the prospects for PUCF, as it seeks to progress its rights issue and diversify its business," Chairman Datuk Oh Chong Peng said in a statement.
Shares in Resource were untraded on Tuesday, last quoted at 9.98 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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